6 Steps to Retire When You Want

For some, the idea of retiring early is a dream nurtured over decades. For others, it's the realization that they could walk away from their career right now and manage just fine. For still others, it comes as a virtual smack upside the head from a financial planner who asks why they've waited so long. There's no right time to retire for everyone, but there is a right way to plan for it. Here's how to position yourself to retire when you want: 1. Assess your savings. 2. Analyze your spending. 3. Plan for Social Security. 4. Leverage your house. 5. Review your portfolio. 6. Secure health coverage. Darrow Kirkpatrick of Santa Fe, NM, said that you can't just quit a job without a plan and expect to be happy. You start to feel a loss of meaning. He suggests coming up with ideas for what you might want to do and then trying them before you retire.