The Frightening Reason Why 26% of Americans Who Retire Earlier Than Planned Do So
At some point during your career, you may start to map out a personal retirement plan. It will likely include details such as how much savings you'd like to amass, what sort of lifestyle you'd like to lead in retirement, and the age at which you'll retire.
But as they say, sometimes the best-laid plans can go awry, and that's precisely what's happened to a large number of seniors who left the workforce at a younger age than anticipated. In a recent Nationwide survey, 26% of seniors who retired sooner than planned did so because they lost their jobs.
That underscores the importance of saving for retirement from an early age rather than waiting until later in life to start ramping up your IRA or 401(k) contributions. You never know when your career might come to an end, and if you rely too heavily on being able to save in your late 50s or early-to-mid 60s, you'll risk coming up short financially.
Source Fool.com
