How to Retire Early when your Nest Egg seems to

How to Retire Early when your Nest Egg seems to need a Little Extra Incubating

It isn't ever considered fair play to change the rules of a game midway. But for people who have spent their whole working lives believing that they could be done with their workaday lives at 65, the new realities of retirement are certainly beginning to appear to be a midway game changer. All they ever did was to live their lives the way they were accustomed to - recession or no recession. Their spending habits and the vagaries of the market just took a lot of value out of their retirement savings. While some people are understandably eager to play by the new rules and to keep working until they restore their retirement accounts to the way they always meant them to be, the thought of working for an extra five years can often be too much for those planning their whole lives thinking of how to retire early.

To these people, there still is a way they can make their plans work out. To these people, the answer to the question of how to retire early without having their standard of living take a big dip would come down to moving out of the city they've always lived in and moving to a low-cost area. This isn't a method that will work for everyone though. It assumes that the one already lives in a high-cost area and one owns a home there. In a high-cost area, the value of a home owned would happen to be a lot higher. That's a lot of value locked up in bricks and mortar that could actually fund one's retirement. If you sell your home in an expensive city, you could take the money and move to a less expensive city. That could be a huge contribution to your retirement fund.

That could be only a theoretical possibility though. When trying to decide how to retire early, should you actually decide that selling the house that you've raised your family in is actually worth going on with to try to secure your standard of living, you might find that in this market, selling a home is hardly a doable option. What you can do at this point is to take a couple of years to decide on where exactly you want to move. When it comes to making your mind up about where you wish to spend the rest of your life, taking a couple of years really isn't too long. And taking this time can really help you wait out the housing slump. When you're ready with the name of the place you wish to move to, the price of your house will have recovered as well.

Trying to decide on the right place to move to can be kind of boring; but it can really make a huge difference to the standard of living you get to enjoy. Sell your home in San Francisco, and you could buy a home of the same size for half the price in Boston or a third the price in Chicago. Move into smaller digs, and you could get an even better deal. Before you actually make your mind up about where you wish to put down roots, you probably want to visit those places and actually try breathing the air in. You could even rent a house in the new place you decide on for a couple of months to really check things out.

Basically, if you can find a lower-cost area to retire to that happens to be close to a major hospital, entertainment and an airport, you could be quite set in your retirement.

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