How to Retire Early

How to Retire Early

Core Facts

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Retirement is something that requires a solid plan and smart strategies, executed over a number of years. However, one third of Americans aren’t saving for retirement, and a sizable percentage of workers say they have virtually no money in savings and investments. And almost a third say they have less than $1,000 in savings.

Most people work their entire life, and then retire at 65, but here are some ideas to retire early:


Get a good paying job. Also make sure you know the salary range of your position, and negotiate to the higher end of it. Saving is easier when you have a higher income, as long as you don’t let your spending habits get the better of you.

Financial Advice

Find a financial planner you can work with and who can steer you in the right direction. Start early, and follow a plan over time. The earlier you start planning and investing for retirement, the better. 


Most people will recommend saving 10% of your income, but if you plan to retire early, you’ll need to put away a higher percentage of your paycheck each month. Again, this has a lot to do with how you spend your money and what bills you are obligated to pay, so keep spending down and save more. 

One other thing to keep in mind is that if you retire early, your retirement years and your kids’ college may coincide, so saving for both might add some pressure to make smarter, more frugal spending choices over the years. 

Cost of Living

Quality of life doesn’t mean expensive. Your cost of living can be remarkably lowered by making some smart decisions on how you spend your money and eliminating wasteful spending habits. 


If you and your spouse are both planning for retirement, consider staggering the dates so that one of you can retire while the other still has a salary and benefits. Another thing to consider is keeping part-time employment as an option, so that you aren’t relying entirely on your savings. 



Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC



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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website:

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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