Retiring Before 65: Plan the Income Gap
Retirement from work, Social Security eligibility, and Medicare eligibility begin on separate timelines.
Budget the years before benefits
Worker Social Security retirement benefits generally start no earlier than 62. Medicare usually begins at 65, with exceptions for some disability and medical circumstances. Put pre-Medicare health coverage in the spending budget.
Separate each income start age
A pension may start immediately, while Social Security begins later. Our retire-at-age calculator discounts the monthly spending gap before and after Social Security, and shows the bridge separately.
Account rules affect access
Early distributions can create additional tax. The separation-from-service exception for certain employer plans is distinct from IRA rules and does not cover every early retiree. Review the IRS exception that fits your account.
Leave room for uncertainty
A constant return is a scenario, not a guarantee. Fees, tax, market sequence, health costs and a longer retirement can change how much savings you need. Compare multiple assumptions.
Check the sources.
Data checked October 1, 2026.