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If your thinking about retiring early mostly what you have to consider are numbers. Here are just some quick rules of thumb to consider:

According to CNN/Money the first number you have to consider is how much longer will you live. Their answer is 95 to 100.

How much income do you need? Experts estimate that some people need as much as 100 percent or more of their pre-retirement income.

How big does your portfolio need to be?  Most experts reccommend you have a portfolio about 25 times the amount you withdraw for your first year of retirement. So if you want $60,000 per year of inflation adjusted income from your investments you would need a portfolio of about $1,500,000.

What age can you start collecting Social Security Benefits? - 62 years old



Those are just some quick numbers to consider. You also need to consider if you can deal with early retirement psychologically. What would you do with your time, if you didn’t work?

Maybe early retirement is too big a step. Why not think about semi-retirement. Is it possible to consult in your field as opposed to working full time? Do you have a hobby or a passion you might enjoy making into a part-time business? Could you stand to work a part time retail job if there were health insurance as a benefit?

See our previous post   Tips-On-Retiring-Early

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