The answers to the following questions could take a while to formulate. But not taking the time to do so comes with dire consequences. Of course, much of what needs to be done in order to retire early requires saving more and making sure there's enough cash to last a lifetime. But a whole host of other factors must be considered. More than likely, it's a case of garbage-in, garbage out. If all you examine is whether you have enough money to retire early, you may get the wrong answer to the "Can I retire early question?"

What are your main goals and concerns relating to retirement?

Who, besides yourself, needs to be taken into account in your planning (a spouse or partner, a dependent child, a dependent parent, a grandchild who lives with you or needs your support, an ex-spouse, other adults living in your home)?

What is the age, sex, smoking status, overall health, citizenship, state of residence, and relationship to you, for each person?

What assets do you own (preferably with lots of details here), and what income do they generate?

What debts do you have? What job(s) do you have now, how long do you expect to have them, and what jobs do you anticipate having in the future?

What other sources of income do you have or anticipate: pensions, annuities, Social Security, alimony, royalties, etc., including future expectations (e.g., an inheritance, the pay-off of a family loan, etc.)? What expenses do you incur, or do you expect to incur, both as a family and as individuals?

What intentions and plans do you have for what happens when you die, or if you become incapacitated?

What kinds of life and health insurance do you have, including long-term care insurance?

This is just a small sample of questions that must be addressed before you decide to retire early.

Retiring early, whether you stay employed or not, however, requires a plan. Not a flip-of-the-coin, Heads; you retire early or Tails; you don't plan. Some 10,000 Americans will turn 60 every day over the next 20 years. Many will celebrate their next birthday asking whether they can walk away from their current job and retire early. For most Americans, the answer is no. Most Americans, according to a number of studies released recently, don't have enough money saved to enjoy the same standard of living in retirement as in their working years.

The odds are that many of these Americans who are contemplating early retirement never crunched the numbers to figure out whether it made sense or not. Many retired Americans seem to make do with what they have and are seemingly happy with what they have.

We as Americans tend to adapt to our current circumstances. Dont just settle or adapt in what is meant to be your Golden Years. Thrive and make those early retirement decisions pay off for you and become the most enjoyable ones of your life. For More Information About Early Retirement Planning

Jim Roche NJ
908-413-5363
http://retireearly.thesavingshighway.com
jimrochenj@gmail.com