Can I Retire at 60? Five Questions to Review

Retiring at 60 can mean more time for family, travel or a different pace of life. It also means planning for expenses that your paycheck and employer benefits once covered. A retirement date should follow a careful review of your resources and the uncertainty ahead.

1. What Will Retirement Cost?

Separate essential expenses from flexible spending. Include housing, taxes, insurance, health care and occasional large costs. Then describe the retirement you want: where you will live, how you will spend your time and any support you expect to provide family.

2. How Will You Bridge the Income Gap?

Your own Social Security retirement benefit generally cannot begin before 62. Claiming before full retirement age reduces your monthly amount. A retirement date and a Social Security claiming date are separate decisions. Review SSA’s claiming guidance and identify the savings, pension or other income that would cover the years between them.

3. What Is Your Health-Care Plan?

Medicare eligibility generally begins at 65, with some people eligible earlier. If you leave work at 60, identify coverage for the intervening years and estimate premiums and out-of-pocket costs. Review Medicare’s eligibility and enrollment guidance rather than assuming retirement automatically starts coverage.

4. How Would Your Plan Handle Difficult Years?

Consider how lower investment returns, higher spending or a longer retirement would affect the plan. Ask what you could adjust, such as discretionary spending, part-time work or your retirement date. A projection is a planning tool, not a promise that markets or expenses will follow a forecast.

5. Which Accounts Will Fund Your Spending?

Review withdrawal rules, taxes, investment risk and available cash across your accounts. The timing and source of withdrawals should be coordinated with your income needs. Consult your tax professional before making distribution or conversion decisions.

Prepare for a Useful Conversation

Bring a spending estimate, an overview of your accounts, benefit estimates and your preferred retirement date. We can discuss the assumptions behind your plan and the tradeoffs worth examining before you make a major change.

Schedule a Conversation or call (219) 400-0485.

Educational information only, as of October 2026. This is not individualized investment, tax, legal or insurance advice. Eligibility and rules depend on your circumstances. Consult qualified professionals. Investing involves risk, including possible loss of principal.