In the wake of new Social Security Administration figures that tell us there will be an increasingly smaller percentage each year for government checks once we reach retirement, everyone still has early retirement on the brain.
A poll conducted by the International Longevity Center and Harris reported that 25 percent of workers, ages 25 to 29 expect to retire before 55; however, history has shown that once this group reaches their 40s, reality hits, and less than 10 percent think 55 still is realistic.
So how do you retire early? Is there a cookbook enabling anyone to achieve this milestone?
While there is no right or wrong solution to accumulating wealth, some are turning to technology to help them figure out a grand plan. One example is Financial Engines, an Internet company that specializes in calculating retirement needs. The calculation is provided at no charge, and a $14.95 quarterly fee kicks in when the participant wants specific investment advice.
CPAs who deliver investment advisory services suggest that anyone looking to retire early seek the assistance of a qualified specialist, especially those working in the industry as personal financial specialists (CPA/PFS), and others holding credible designations.