Broker Check

Bluffton Location

117 E Elm Street

Bluffton, OH 45817

5/15/2020 – More about early retirement options

I read something recently that said "everything we do is fear-based."  The comment was made in relation to the COVID-19 pandemic and their thoughts were like this:

- if we wear masks, we are afraid of getting the virus

- if we don't wear masks, we are afraid of becoming dependent on them OR afraid of the government's control over our lives

- if we believe the media, we are cultivating fear

- if we don't believe the media, we are fearful of what they are covering up

While there may be some logic to that kind of thinking, I believe they didn't factor in everything.  There is the God-factor -- God who does not give us a spirit of fear, but of power and love and a sound mind.  He is able to help us operate outside of fear!


I wrote recently about voluntary retirement options being offered at Honda.  It is quite common for companies to attempt to reduce their older workforce (who tend to be more expensive because of their experience cost) by offering early retirement options. 

I googled to see if other companies are also offering buyouts at this time and found 2 or 3 other large companies who are offering voluntary retirement.  I want to reiterate that this isn't a "fearful" thing, but as always - knowledge is power.

If you or someone you know is being offered an early retirement buyout option, it is a very good idea to review the information with a trusted adviser.  Some things to consider when weighing a buyout option are:

1) What would my sources of income be if/when I retire? 

2) Where would my health insurance come from until I'm able to sign up for Medicare?

3) Would I be willing to work part- or full-time to help bridge me over until I can draw Social Security?

4) How much income can I take from my current investments and not "outlive" my money?

We'd be glad to help you navigate the questions and find some answers to help you make your decision.