How to Avoid These 5 Early Retirement Mistakes

Plus, learn how a car insurance deductible works and how to use it to lower your premiums. Created for {EMAIL} | [Web Version]( August 22, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] INTRODUCTION [] [Stepping Into Early Retirement Mistakes]( I think there is much to learn from the FIRE (Financial Independence, Retire Early) movement even if you aren’t planning for an [early retirement](. Being fiscally responsible and disciplined can improve your outlook and give you options that you may have written off. However, early retirement mistakes can douse your FIRE efforts and are useful for anyone who plans on retiring someday. 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There are four million newly minted college graduates and 15.2 million undergraduate students, many of whom will have an opportunity to save for retirement for the first time at their new jobs. We have a [comprehensive guide to IRAs]( that you can use to start talking about money and help guide the next generation to a better financial future. [] MEDICARE AND PRESCRIPTION DRUGS [] [Here Are the 10 Medicare Negotiated Drug Prices]( [Here Are the 10 Medicare Negotiated Drug Prices]( (Getty Images) Medicaid and the Department of Veteran Affairs negotiate for lower prices, but Medicare Part D has been barred from doing this since its inception in 2006. That changed with the Inflation Reduction Act, and now, we know [the negotiated prices for the first 10 drugs Medicare chose to negotiate prices for last year](. Please note that each price is for a 30-day supply. 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[Financial experts + automated tech]( While you focus on what's important to you, Betterment is working behind the scenes to optimize your investments and make your money hustle. [Learn More]( ADVERTISEMENT [] OTHER KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [How does a car insurance deductible work?]( Choosing the right car insurance deductible can save you real money. Know your options before you sign a policy. [Top 10 electric cars in the US — most popular EVs]( Electric car sales continue to climb. Who knows, you might be driving one of these top-selling EVs in years to come. [What are Social Security credits, and how do they work?]( You must earn a minimum amount of credits to qualify for Social Security benefits. However, the amount of money it takes to earn each credit may vary from year to year. [Sign Up for Kiplinger's Free Tax Tips E-Newsletter for Money-Saving Tax Planning and Compliance Advice]( ABOUT KIPLINGER When we write about money, we get it right. 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