Available for Interviews: Harry Abrahamsen
Harry J. Abrahamsen is Founder & CEO Abrahamsen Financial Group. His company offers customized wealth management solutions—creating plans and portfolios that protect, preserve, and grow client’s wealth. He was selected as one of the ten most dependable Wealth Managers in the Mid-Atlantic as published in Forbes magazine.
What Harry Abramhamsen can say in an interview on
Retiring at Age 50:
Retiring at age 50 is not easy to do successfully.
Retirement can mean a lot of different things to different people. IF you want to retire at 50, then you cannot do any of the traditional planning most Americans do.
Any money invested into a 401(k) cannot be touched until the age of 59 ½ , so that means a person has to plan years in advance to retire at 50 (and not invest any money into a traditional retirement plan, i.e. 401(k), IRA’s, or Roth IRA’s).
If you want to retire at 50, you will need to save money into post-tax investments: real estate, limited paid-up life insurance, savings accounts, and post-tax brokerage accounts.
Biggest main drawback is two-fold. First, you don’t have youth on your side and your mind is not as sharp as it once was. If you retire at 50 and realize you made a mistake or need to go back to work, it is a lot harder to find employment in your late 50’s or early 60’s. Starting over is not easy.
Second, inflation is a stealth tax. $80,000 or $100,000 of retirement income at 50 will feel very different at age 60, 70, and 80. People should head with caution especially with COVID-19 causing our government to produce over 5 trillion dollars of fiscal and monetary stimulus (25% of our GDP). Your income will have way less purchasing power, impacting your lifestyle.
Again, if you decide to retire at age 50, you need to be careful because plan B options are often very painful later in life.
Interview: Harry Abrahamsen
Harry J. Abrahamsen is Founder & CEO Abrahamsen Financial Group. He has been quoted in numerous national publications, such as Forbes, On Wall Street, Financial Planning, Bottom Line Personal, Smart Money and cited in the Encyclopedia Britannica. An independent research firm has selected Harry James Abrahamsen as “The 10 Most Dependable Wealth Managers in the Mid-Atlantic” published in the Forbes December 2007 issue Investment Guide. Harry Abrahamsen has five children and resides in New Jersey.
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