Retiring early might be something you’ve thought about for years and in fact, you’re already envisioning how you’ll spend your days. But retiring early requires advance planning of some of the complex factors associated with leaving the workforce before age 65.

Studies from the Employee Benefit Research Institute show that only 11% of workers today intend to retire before age 60. Many of them are concerned about health care, the loss associated with no more compound interest after they start drawing on their retirement accounts rather than contributing, and penalties that can be associated with pulling money out of 401(k) plans and traditional IRAs prior to age 59 ½.

Deciding whether or not this is the right fit for you also means thinking about the legacy you intend to leave behind.

Do you plan to pass on assets in your estate to beneficiaries like a charity or your own loved ones? If so, you’ll need the support of an experienced estate planning lawyer to guide you through this process. There are five major questions you’ll want to think about and align with your personal circumstances before deciding whether or not to retire early. These include:

• Will I really be able to stop working?
• What will I do to occupy my time?
• Are my plans in line with my partner or spouse?
• How will I get health insurance?
• Will I need to get a part time job to make ends meet and will I be able to do this, given my experience in the current work environment?

These unique considerations all contribute towards your personal retirement plans and your overall estate planning goals. Set aside time to speak with a dedicated professional estate planning attorney so that you have clarity on what this means for you and whether or not early retirement is suited to your needs.