5 Things To Do When Faced with Sudden Retirement

3. Explore Alternative Money Making Options

You have a lifetime of skills at your disposal. Perhaps you can use them in ways you hadn’t considered before. First reach out to former professional contacts to get a sense of what is out there and what type of project work might be available. You can also look into starting a consulting business, or see if your handyman or dog walking skills might be put to good use in your local neighborhood. There are numerous ways to earn extra money if you put your mind to it.

4. Avoid Knee Jerk Decisions

Do not instantly file for Social Security, your pension, or take out retirement money – unless you have completed your retirement income plan and that is the optimal choice for you. Too many people make a rash decision of starting Social Security early only to find work a year later. In such a case the Social Security earnings limitkicks in, and some of the benefits may need to be repaid. They would have been better off using other sources of savings to tide them over.

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