A: Early retirement is considered any time before you reach your Social Security full retirement age (currently 66-67 depending on your birth year). You need to save 10-15% of your income to retire by age 66 at a similar lifestyle to what you enjoyed while working. This assumes that you will not have a pension, inheritance, or any plans to downsize your residence. You will likely need at least a 25-30% savings rate throughout your career to retire by your mid-50s. For early retirement tips and more on this topic, read: Early Retirement- Is It Possible For You?.