This week’s theme is: Early retirement offers - what should you do if this happens to you?

Today, I’m talking about other work options instead of early retirement: 

1. Your first work option instead of early retirement is just to keep working at your job and hope that you don’t get laid off later on or the company doesn’t go out of business. As I mentioned earlier in the week, it’s important to understand as much as you can about the financial health of the company you work for when deciding on taking an early retirement offer.
2. You could take the early retirement offer and retire. You’ll want to make sure you can afford to retire. If you want some help with answering that question, I have a free tool for you - The Retirement Success Forecaster - just complete a 2-page questionnaire, send it back to me and I’ll send you your personalized results. Just go to truenorthra.com/retirementsuccess. 
3. Finding another full time or part time job is possible, yet as I have experienced with my clients and people I know who were laid off close to retirement, it’s very hard to find a job and if you do, its usually always a cut in pay to go start somewhere new so late in your career. 
4. Related to finding another part-time or full-time job is starting your own side hustle. Maybe you have expertise in a specific area and a lot of contacts, that would allow you to do consulting work. 

Whatever it is, don’t feel trapped in your options and consider alternatives that may be viable for you. The key word there is viable. You must make sure that whatever decision you make about whether to take or not take your early retirement offer - that you can afford to live with the consequences. The numbers have to pencil out. Otherwise, you’re playing with fire with your long-term financial security in retirement. 

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip. 

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