For many retirement savers, early retirement is the holy grail. However, the reality is that once an age is reached when early retirement is available, many individuals re-evaluate their plans, putting retirement on hold either out of financial concern or a feeling that they are not yet ready to end their careers.
These people are lucky; they have a choice. But what will happen if ill-health, family commitments or professional circumstances take retirement plans out of your hands. Not only can such a situation make you feel helpless, it can leave you facing a cashflow conundrum that has the potential to plague your sunset years with insecurity and uncertainty.
This is why it is essential your retirement plan accounts for the possibility of the unexpected.