"Calculating Your Early Retirement Savings Goal"

Planning for early retirement requires a lot of saving and planning. Financial experts suggest saving as much money as possible, with Fidelity recommending those who make between $50,000 and $300,000 in annual income and want to retire at 67 should plan for their savings to replace about 45% of their pretax, preretirement income, or aim to save about 10 times of their current income by age 67. Early retirees should keep in mind that Social Security retirement benefits won't be accessible until 62, and they'll have to wait until they reach the age of 65 to be eligible for health care through Medicare.