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Is 50 a good age for early retirement?

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Quick Answer

50 is a good age for early retirement if the individual has saved money for retirement, can reduce his retirement expenses, is willing to trade or barter for certain items and services, and can control his expenses, states Forbes. To avoid fees, retirement accounts shouldn't be used early.

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Full Answer

An individual who plans on retiring at 50 should save more money than he spends and take advantage of sound financial opportunities, according to Forbes. Moving to an inexpensive location and one that doesn't have a state income tax helps to reduce the cost of housing and taxes. Any location the individual moves to should have reliable public transportation to save on the cost of owning a car or other more expensive forms of transportation.

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