A Complete Guide to Retiring Early

Key Early Retirement Considerations When Planning Your Retirement

For many people, early retirement sounds like a dream come true! With so much extra time, it can be a wonderful opportunity to pursue new interests, try new things, and focus on your well-being. Choosing to retire before the typical age can be a desirable option for many people, but it’s important to be aware of the pros and cons, and have a plan in place to make the most of it.

In this post, we will discuss key early retirement considerations to guide you into the next phase of your life! 

1. Think About Why You Want to Retire Early

Reasons for early retirement can vary widely, so it is important to consider the reasons for your decision. Some people choose to retire early to have more time to pursue hobbies or travel, while others may wish to spend more time with family or focus on other personal pursuits. Others may choose to retire early because they have reached a financial goal, such as paying off a mortgage, saving enough money to live on, or accumulating a certain level of savings or investments. Whatever your reason may be, once you understand your motivation for making the change, you can begin to take a closer look at the logistics of making it a reality!

2. Assess Your Finances

One of the most significant considerations when thinking about early retirement is your finances. Retiring early can mean having to live on retirement savings for a longer period of time. It’s important to have a good financial plan in place, including knowing what kind of benefits or retirement plans you might be eligible for, and how long your savings will last. If you are unsure, we recommend meeting with a financial advisor, if you don’t already have one.

Related: What You Need to Know About Retirement Planning

3. Identify How You Will Spend Your Time

Another one of our early retirement considerations to keep in mind is how you will fill your time in retirement. Some people find that early retirement is a chance to start a new career or pursue new interests, while others may find that the lack of structure can be challenging. It is important to have a plan for how you will spend your time in retirement so that you can make the most of it. Here are a few ideas of things you can do when you retire:


Whether you want to visit new cities, see famous landmarks, or explore the countryside, early retirement is the perfect time to travel and see the world. 


Many retirees find fulfillment by giving back to their communities through volunteer work. Opportunities can range from working with children and youth programs to serving meals in homeless shelters to working in wildlife conservation.

Learn a New Skill

Retirement is a great time to explore new interests and learn new skills. This could include learning a new language, taking up a hobby like painting or photography, or studying a subject that has always fascinated you.

Start a Business

Whether you’re interested in starting a business to earn additional income, or you want to pursue a passion project, retirement can be the ideal time to start a business or pursue an entrepreneurial venture.

Get in Shape

With more time and less stress, retirement can be the perfect time to focus on your health and well-being. This could include starting a new exercise routine, such as yoga or pilates, learning to cook healthy meals, or taking up a new sport altogether.

Spend Time with Family and Friends

Retirement can be a great time to spend with loved ones, whether it is by hosting gatherings, going on trips, or just spending more time together.

Get Involved in Your Community

Retirement can also be a great time to get involved in your community by joining clubs or organizations. You can participate in clubs or organizations centered around your interests, like gardening, photography, or history and you can also volunteer in community activities, like charity events and community service projects.

These are just a few examples of the many things you can do when you retire. The most important thing is to find activities and interests that you enjoy, and that bring you a sense of fulfillment and satisfaction.

4. Choose a Place to Live Based on Your Lifestyle Preferences

Taking everything you have identified into account, it is time to choose a location to retire. There are several factors to consider that will play a significant role in your final decision. First, take the cost of living into account and consider the overall cost of living in the area, including housing, healthcare, and taxes. Also, think about access to healthcare and research the quality and availability of healthcare in the area, such as hospitals, clinics, and doctors. 

Another important factor is how close you want to be to your loved ones and whether the location you are considering offers that proximity, or is easily accessible by transportation. After that, you can focus on your personal preferences and those factors that will make your time more enjoyable. Consider the availability of amenities such as shopping, dining, entertainment, and cultural activities. If you enjoy outdoor activities, consider the availability of natural spaces, parks, and recreational opportunities in the area, making sure to consider the type of climate you prefer and whether the location you are considering offers the lifestyle you are looking for.

5. Experience the Freedom of Early Retirement

With these early retirement considerations taken into account, all that’s left to do is enjoy the fruits of your labor and pursue your passions and interests in the comforts of your new home! 

Start the Next Chapter of Your Life at Seafields

At Seafields, we know the importance of living life on your own terms –– that’s why we offer countless ways to enjoy your early retirement. From health and wellness activities to fine dining opportunities, and many professionally organized social events, our 62+ Life Plan Community is rich in services and amenities that make retirement the most gratifying time of your life. 

If you are ready to multiply the ways you enjoy early retirement, reach out to our team to learn more about the many opportunities available when you find your home at Seafields.

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