DENVER (CBS4) – Early retirement is a dream for many working Americans that can quickly become a nightmare if you’re not paying attention.

A lot of baby boomers find they have an option to take early retirement.

The package may seem like a lot of money but far too many boomers leave their jobs only to realize they don’t have enough money to make ends meet.

When they try to return to the workforce, they find their old job is not available so they end up taking a job paying minimum wage.

People thinking about taking early retirement in 2014 might want to reconsider until 2015.

It seems obvious but a lot of people don’t do the math. If you still have college tuition, credit card debt or if you recently bought a boat or a second home, now isn’t the time to retire.

Don’t underestimate the daily routine you’ve established over the years. Think about your actual work. Do you enjoy the challenge and feeling of accomplishment when you’ve completed a project?

If you’ve got nothing to retire to, then maybe you shouldn’t retire. If all you want to do is play more golf then maybe you should think twice about it.

You might find that playing golf twice a week is fun, but playing five times a week turns into a routine that eventually becomes a bore.

If you retire at age 55, and live to age 85, then that’s a lot of boredom.

Financial advisers say a good rule to follow is if you can’t pay off your mortgage, you can’t afford to retire.


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