If you want to retire early, you'll need a solid plan, masterful control over your expenses, and savings outside of retirement accounts. Or maybe you're wondering if you should take the early retirement package you were offered. Taking an early retirement is not one of the exceptions to the 10% penalty for early withdrawals from a traditional or Roth IRA. If you start a SEPP program at age 55, you'll be able to stop at 60. To retire at 55, you'll want savings outside of retirement accountsMost people want more control over their day-to-day after they retire, not less.

Source: Forbes July 21, 2020 12:30 UTC