Ep 56: How “The Great Resignation” Could Impact Your Retirement Plan

If you are thinking about leaving your job, how will it impact your retirement plan? On today's episode, we discuss retiring early and what you need to consider before doing so.

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The Game Plan

A record number of people are leaving their jobs. They are either retiring early, looking for new positions or taking a break from work. A lot of people don’t want to return to the office and are opting for early retirement instead. Others people are questioning their values when it comes to their work-life and are taking time off. But if you do this, what are the consequences on your retirement plan? On today’s show, we’ll discuss how this decision could impact your Social Security, 401(k) plan, and more.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[0:56 ]Happy New Year!

[1:30] What is “The Great Resignation“?

[4:33 ] Taking a break from Social Security

[6:09] How will this impact your income plan?

[7:56]Your 401(k) is not a rainy-day fund

[8:46] The negative consequences of taking money out

[10:20] Take your 401(k) with you

[11:35 ] Will taking your 401(k) be taxable?

[12:37] What are the challenges of retiring early?

[15:46] Does your plan account for longevity

When you’re working and you’re planning and you’re thinking about what you have to do, you always want to have enough reserves set aside…  

– Dale Tondryk

More To Explore

Ep 73: Getting it Right: Irreversible Financial Decisions

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. In this episode, we’ll explain why these decisions are so important and can’t be undone.

Ep 72: Can’t Get No Satisfaction… Or Can You?

Want to know the secrets to experiencing satisfaction in retirement? We’ve discovered five key situations in which your financial plan needs to lead you. If you can key in on these five points, you’ll have a high chance to achieve retirement satisfaction.

Ep 71: Going Against the Grain to Achieve Your Retirement Goals

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com