Retiring early means different things to different people. For some, it means retiring as soon as they turn age 62 and can begin collecting Social Security benefits. For others, it's when they hit their late 50s. Some even call it quits in their early 50s, trading the 9-to-5 for a life of freedom.
While retiring early may appeal on an emotional level, it also brings up several practical considerations. The earlier you retire, the more years you need to plan for how you'll live after leaving the workforce. If you retire at 65, you need to anticipate living twenty or even thirty years more. But if you retire at 55, you need to expand your estimate by another decade.
