Benefits of Early Retirement in Florida
For many Florida residents, early retirement represents a clear goal that offers numerous benefits. Perhaps the most obvious benefit is simple: Florida residents can stop working after retirement and enjoy the rest of their lives without the added pressure of a typical nine-to-five job. However, many Florida residents are unaware of the more subtle benefits of early retirement – including the potential to stop paying alimony to a former spouse.
Increased Freedom
Although many focus primarily on financial wealth, the most valuable resource on Earth is time. After all, they’re not making any more of it – and once you lose time, it’s gone forever. Retiring early gives you many more years of total freedom to enjoy your life. Early retirees can check items off their bucket list, spend more time with friends and family, and engage in hobbies that a full-time career previously made impossible. Although retiring early may limit income, it is possible to live comfortably on relatively low monthly costs if retirees plan their finances effectively.
Health Benefits
Retiring early has been linked with serious health benefits. Various studies suggest that if you retire before the age of 60, you might have a lower chance of developing various illnesses. Kicking back and enjoying life may result in less stress, and it might even increase your life expectancy. In addition, it might be possible to qualify for certain retirement health benefits depending on your age at the time of retirement.
Lowered Alimony
Florida residents enjoy unique benefits when it comes to early retirement. It is possible to lower or cease alimony payments when you retire early, and this is something that many Florida workers are already taking full advantage of. A new divorce bill makes it clear that when a person retires, they should be given the opportunity to stop alimony payments. Furthermore, the bill stresses that alimony should not be permanent under any circumstances.
Not only is retirement a logical reason to end alimony, but it may come earlier than you think. Although most Florida residents assume that “normal retirement age” is around 65, the exact number depends entirely on your career. Some careers are associated with much earlier “average retiring ages” than others. It makes sense to discuss your unique situation alongside a qualified alimony attorney in Florida, as you may be fully entitled to retire and stop alimony payments much sooner than you realize.
Find a Qualified, Experienced Alimony Lawyer in Florida
Although early retirement offers numerous advantages, the ability to stop paying alimony is particularly intriguing for many Florida residents. However, one cannot simply stop making alimony payments as soon as they retire. A very specific legal process is involved with modifying existing spousal support agreements, and a qualified Orlando alimony attorney can guide new retirees toward positive results. Speak with Steve Marsee, P.A. to discuss the possibilities offered by early retirement in more detail.
Sources:
investopedia.com/articles/personal-finance/073114/pros-and-mostly-cons-early-retirement.asp#:~:text=Pros%20of%20retiring%20early%20include,depressing%20effect%20on%20mental%20health.
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.08.html
