4 Times in Your Life When It's Easier To Retire #doctor #physicianfinance #personalfinance #money

We're going to talk about something special today. We're going to talk about four times in your financial life when retirement might be a little bit easier. And the first one, hopefully the first one, although it could be the last one because there's no real age on this one, is paying off your mortgage and just getting rid of this big rock in your budget can reduce your expenses so much that all of a sudden retirement becomes possible. Another big transition point is when your kids get done with college, taking them off the family payroll, if you will, all of a sudden, it frees up a lot of income for you. Another big transition point happens between age 62 and 70, right? And you guys know what this is, right? This is Social Security. All of a sudden, at 62, you become eligible for this additional income, and that additional income may push you into financial independence. The other big data is at age 65, right? At age 65, you become eligible for Medicare. And that reduced expenses can often make you financially independent and able to retire.