Limiting belief about money - achieving successIs 55 too early to retire?

Short answer: Of course not!

If anything, if you can and want to retire early, I say go for it.

There’s nothing wrong with wanting to do more for yourself and to give up the rat race.

But, there are a few things to keep in mind with early retirement:

  • You’ll need to find a way to earn money before you take money from your retirement accounts (like your 401(k) and IRAs
  • Social Security benefits won’t kick in until you’re 62.
  • Medicare eligibility doesn’t begin until 65 (so how will you cover healthcare in the meantime?)

As long as you can figure out those few issues, you can make sure that you’re prepared to retire early.

Are You Ready To Retire Early?

Now that you know what you need in order to retire at 55, do you plan on taking the leap?

Many people have retired early, but of course, it’s important to focus on what’s best for you and your finances. And remember, it doesn’t have to be permanent either!

You can always go back to work if you choose (and if you’re able to), or you can find other ways to earn money to supplement you retirement. No matter what you choose, remember that it IS possible to retire at 55 and live a great life.