'Aflac employees considering early retirement must think about the wider implications beyond instant fiscal readiness,' advises Kevin Landis, a representative of the Retirement Group, a division of Wealth Enhancement Group. 'Ensuring sustainable economic health means planning adequately for lengthier life expectancies, possible gaps in healthcare, and maintaining a fulfilling lifestyle.'

'Early retirement for Aflac employees provides exhilarating possibilities but demands careful monetary and life planning,' states Paul Bergeron from the Retirement Group, part of Wealth Enhancement Group. 'Address the sustainability of retirement by securing sufficient energy and contemplating the way you are going to engage meaningfully in post retirement life to guarantee a healthy, satisfying future.'

'In this post, we'll discuss'

1. The Financial Requirements for Early Retirement: Understanding the demand for a bigger nest egg as a result of increased life expectancy plus diminished earnings from early retirement.

2. Loss of Corporate Benefits: Identifying the gaps in advantages such as life and disability insurance, along with tactics to bridge them until qualified for Medicare.

3. Lifestyle Considerations Post Retirement: Exploring the non financial implications of early retirement, like possible getting bored and also the typical phenomenon of going back to work part time.

Want to retire from Aflac early—that's before 'normal' retirement age? The fundamental challenge—an issue most of us are glad to have—is we are living longer. Retire from Aflac in your mid-fifties and you could live forty years or more in retirement.

For a longer retirement phase, you will need a bigger nest egg than if you retired from Aflac at a later period; however, you will have fewer years to create that nest egg. Early retirement from Aflac means smaller monthly Social Security benefits. The same is true for traditional pension plan benefit amounts.

For a longer retirement phase, you will need a bigger nest egg than if you retired later.

If you retire from Aflac early, you might have to upgrade company benefits you lose, like life insurance and also, if you work part time and on your own during retirement, disability insurance. Additionally, you may have to think about health insurance to cover the gap until you are eligible for Medicare at your normal retirement age. Retiring from Aflac before age 59½ also can present a tax issue, since taking cash from your retirement plans might cause a 10% tax penalty. And you can still have major expenses to fund, like a mortgage and college.

The challenges of early retirement from Aflac aren't merely monetary, however. What are you going to do all those years? Many financial planners find their retired clients returning to work, often part time, from boredom. So although early retirement from Aflac may seem appealing, be certain you have thought about the non-financial and financial issues before taking the plunge.

A Roth IRA conversion decision hinges on your full tax picture, including the employer benefits Aflac provides. At the core of your retirement package, Aflac maintains a defined benefit pension plan that has been frozen to new benefit accruals -- meaning the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents, meaning the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents. Aflac also offers retiree healthcare benefits to eligible employees, which can provide meaningful coverage for those who retire before reaching Medicare eligibility at age 65. Because the specifics of your pension benefit, retiree healthcare eligibility, and any matching contributions depend on your individual employment history and plan documents, We encourage you to review your Summary Plan Description (SPD) or speak with Aflac's HR or benefits team for the most current details.

Sources:

1. Duffy, Marcia Passos. 'Considering Early Retirement? Five Things to Know.'  Kiplinger , May ,  www.kiplinger.com/retirement/retirement-plans/604909/considering-early-retirement-five-things-to-know .

2. Reddick, Chris. 'How to Effectively Save for Retirement in Aflac Companies.'  Chris Reddick Financial Planning, LLC , ,  www.chrisreddickfp.com/blog/how-to-effectively-save-for-retirement-in-fortune-500-companies . 

3. Li, Diana. 'How Financial Advisors Can Help Clients with Retirement by Planning Early.'  Financial Planning , 10 May ,  www.financial-planning.com/news/how-financial-advisors-can-help-clients-with-retirement-by-planning-early . 

5. Peters, Ryan. 'How to Retire Early: 8 Early Retirement Tips.'  U.S. Bank , ,  www.usbank.com/financialiq/manage-your-household/retirement/8-early-retirement-tips.html .