Without a second household income to fall back on, career transitions later in life deserve careful financial modeling.
Key considerations
- Impact on Social Security benefit calculations, which are based on your highest-earning years
- Health insurance coverage gaps if leaving employer-sponsored coverage before Medicare eligibility
- Whether a phased retirement or part-time transition reduces financial risk compared to a sudden full stop
Model a few different scenarios with a financial planner before committing to a specific timeline.
This article is general information, not financial or legal advice. Rules, costs, and program details vary and change over time — confirm current specifics with a licensed financial advisor or elder law attorney before making a decision.