Want to retire early? Top tips for getting there
6. Figure out what to do for health insurance
If you retire early, you wont be able to receive Medicare until you are age 65, and very few employers still offer retiree health care. So, your only options are to quit your job and continue your coverage on COBRA or get an individual policy. COBRA often appears to be a good option but it only lasts for 18 months and getting your own policy could be prohibitively expensive.
Be sure to get this aspect of early retirement settled before you officially retire, and remember that even if you have coverage until Medicare kicks in, the average couple spends over $200,000 for health care-related expenses in retirement.