Retirement Plan B: What to Do If You Get Forced into Early Retirement

Retirement Plan B: What to Do If You Get Forced into Early Retirement

According to the Employee Benefits Research Institute’s (EBRI) 2023 Retirement Confidence Survey, 46% of Americans were forced to retire earlier than they expected. The EBRI reports that this figure has been relatively consistent throughout the 33-year history of its Retirement Confidence Survey, and it highlights the need for everyone who is nearing retirement age to have a flexible retirement plan that will allow them to have adequate income if their initial plans need to change.

35% of those surveyed who retired early said they did so because of a hardship, such as a health problem or disability, while another 31% said changes at their company forced them into early retirement. In circumstances like these, an early retiree may not have the income they need to cover their expenses in retirement, especially as rampant inflation drives up the prices of goods and services across the board.

With a forced early retirement being a very real possibility for nearly half of Americans, more retirement savers are warming up to the idea of guaranteed-income investment vehicles, like those used in the proprietary Crash Proof Retirement System. Not only can a crash proof retirement create a guaranteed income stream that will allow you to live comfortably in your golden years, it can also afford you the flexibility to withdraw penalty-free income you can use to deal with unexpected expenses, inflation, or even an earlier than expected retirement. The best part is that you can take this additional income without depleting your principal because of the tax-deferred interest you are earning by having multiple Crash Proof Vehicles within your System.

While we all aim to have our retirement plan A work out perfectly – retiring exactly when we planned to without any unexpected expenses – it’s important to realize that this will not be the case for everyone. When reality hits and challenges arise, you will already be prepared with a plan B that provides additional income when necessary. And if more difficulties come up down the road, your Crash Proof Retirement System will act as your plan C, growing tax deferred until you need it. You can be prepared for inflation because you will have a reliable increase to your standard income, leaving you with the purchasing power to maintain your lifestyle no matter what challenges you may face.

Flexible Income for Retirement
While you may have a retirement target date in mind, most people don’t know exactly when they will be able to retire. That’s where the Crash Proof Retirement System comes in. By stringing together multiple Crash Proof Vehicles, or “laddering” multiple vehicles within your Crash Proof Retirement System, you can create a great deal of flexible income potential. While we call these inflation fighters – and they can certainly be used to account for the increased cost of living we have seen lately – they can also be used to create income solutions for those who have been forced to retire early.

For example, if you have been forced to retire before you are old enough to collect your Social Security benefits, or if you want to delay collecting them so you can receive your full benefit amount, the inflation fighters in your Crash Proof Retirement System can create a guaranteed source of income to cover your expenses during that period. Unlike many traditional retirement savings vehicles, Crash Proof Retirement makes certain you will not incur any withdrawal penalties. How much additional income you can create depends on many factors, including the accumulated value of your Crash Proof Retirement System, the types of vehicles it contains, and how much income you will actually need.

The best thing about having a Crash Proof Retirement System is that it is flexible to whatever your specific needs may be. Whether you need extra income because of unexpected expenses, because inflation has sapped your buying power, or because you had to retire early, your Crash Proof Retirement System will be there to provide you with a consistent income you can count on. And if you don’t need the extra income, your Crash Proof Retirement System will continue to grow tax deferred and will be there for you whenever you need it.

If you are concerned about the possibility that you may have to retire earlier than you expected – and the 2023 Retirement Confidence Survey shows that you should be – the Crash Proof Retirement System can be your retirement plan A, plan B, and if necessary, plan C. The earlier you start developing your Crash Proof Retirement plan, the more flexibility you will have. Get in touch with Crash Proof Retirement today to schedule your complimentary financial checkup and speak with a licensed retirement educator about how the Crash Proof Retirement System works.