Is Retiring Early a Mistake?

By Admin Prepare

August 31, 2019


Andrew Luck, one of the top rated quarterbacks in his prime in the NFL, abruptly retired from the league last week at an early age.  Even though this was shocking, it is not out of the ordinary in the real working world.  Every year many people choose to retire sooner than they had originally planned.  So, how do you know if retiring early is a mistake or not? 

Everyone’s ultimate goal is to retire at some point in their life.  For some people it may come at an earlier time than they had originally thought, and that obviously can be wonderful.  However, you have to make sure you have planned and addressed many factors before you actually retire.  This is especially important if you are retiring at a younger age as it can put much more strain on your retirement plan to last longer in retirement.  So, it’s very important to have your ducks in a row, so to say, before you make that ultimate decision because many times it is very difficult to get a job back or to return to the workforce after you have decided to retire. 

Now, Andrew Luck is a smart guy so I am sure he has done proper planning.  If he hasn’t, well the millions that he has made over his career will certainly help.  However, most people do not have multi-millions of dollars to rely on in retirement. So, if and when you are faced with an early retirement decision, you certainly need to address many very important factors and issues before making that decision because you don’t want your decision to retire early turning out to be a mistake.

Andrew’s decision to retire early was based primarily on his health.  He is secure financially so if he ever regrets retiring early it will probably be from a legacy standpoint on what he may have been able to accomplish on the football field during his prime.  However, for most people, there are many factors to consider in addition to one’s health and financial aspects.  To learn of all the many factors that must be considered before making a decision to retire early, visit The Prepare Institute website and find an upcoming retirement education course in your area.   

Content is for educational and informational purposes only.  It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. You should contact your retirement and tax professional before utilizing any of the information in this article.