Retiring at 55 might seem too young. You can easily work another decade. Plus, you can’t collect Social Security until 62 at the earliest. Even then, you’re losing money by receiving benefits before your full retirement age (FRA).
Nonetheless, millions of people aim to retire at 55 and don’t care if that means no Social Security or Medicare (which doesn’t kick in until 65). They put greater value on life outside the office, even if it means downsizing.
