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5 Financial Moves for Early Retirees
Take control of your finances, reduce unnecessary costs, and make the most of your freedom.
Early retirement gives you something money can’t buy—time. But that means your money must work even harder, covering healthcare, lifestyle, and long-term needs for decades to come.
We’ve researched the smartest financial moves for early retirees to help you preserve wealth, minimize stress, and enjoy retirement with confidence.
1. Get Expert Financial Advice for Retirement Income Planning
Are your savings set up to last 30 years or more? The earlier you retire, the more strategic you need to be with your withdrawal plan, tax strategy, and long-term risk management.
As you may know, retiring isn’t as simple as taking a ton of cash from your portfolio at once. It requires a careful income plan that takes your retirement time horizon into account. Key factors, such as your desired lifestyle and expected lifespan, will impact how much income to take each month and year.
Working with a qualified financial advisor can help you avoid common mistakes, such as overspending early or misallocating investments. According to a recent Vanguard study, professionally managed portfolios can grow up to 50% more over time than those managed alone.
Assuming 5% annualized growth of a $500K portfolio vs. 8% annualized growth with an advisor over 25 years. Source: Vanguard Research1
Our free tool makes it easy to connect with a vetted financial advisor near you. Just answer a few questions and get connected in minutes.
2. Find Affordable Health Coverage Until Medicare Kicks In
Healthcare is one of the biggest expenses for early retirees, especially before Medicare eligibility kicks in at 65. Many overpay by staying on COBRA too long or not reviewing their options.
Luckily, you may qualify for ACA plans or private coverage that better fits your needs and budget. Our free tool helps you find top-rated health plans in your area to ensure you get the ideal coverage.
Shop around and get peace of mind knowing you’re covered—no obligation.
3. Grow Your Savings With Better Interest
It’s smart to keep cash on hand in retirement for emergencies or immediate expenses, but that doesn’t mean it can’t still work for you. Many big banks offer just 0.46% interest, while top high-yield savings accounts (HYSAs) offer up to 4%.
That’s nearly 10x more growth, without any additional risk.
Our tool helps you compare leading HYSAs in minutes, so your emergency fund or travel budget can grow while you relax.
4. Bundle Home and Auto Insurance to Boost Savings
Retirement often signals a shift in lifestyle—less commuting, fewer miles driven, and sometimes even a move to a lower-cost area. But many early retirees stick with the same insurance company for years, missing out on big savings.
One of the easiest ways to cut costs? Bundling your home and auto insurance under one provider. Not only can it simplify your coverage, but it can also lead to significant savings—around $348 per year according to Consumer Reports2.
Our free tool makes it easy to compare rates from top insurers and see how much you could save. Just enter your ZIP code to get started in minutes.
5. Use the Right Tools to Enjoy Retirement on Your Terms
You’ve earned the freedom to live life on your terms, and now it’s time to make your money work for you. With the right financial tools, you can enjoy more of what you love while keeping your finances running smoothly behind the scenes.
Maximize Your Lifestyle with the Right Credit Card
Whether you’re planning your next trip or simply enjoying everyday purchases, the right rewards credit card can allow you to stretch your money further. The perks add up and bring great value, including:
- Cashback
- Travel points
- Airport lounge access
- No foreign transaction fees
Don’t settle for anything less than the best. Use our free tool below to compare great credit cards and find the right one for you.
Simplify Investing with Easy-to-Use Apps
Still growing your wealth or managing your portfolio? Today’s investment apps make it simple. Track performance, automate contributions, and rebalance all from your phone, with tools that fit your pace and retirement goals.