A US-specific calculator that respects the rules that actually matter at 55: the Rule of 55 for 401(k) access, the 59½ penalty cliff for IRAs, Medicare eligibility at 65, and your Social Security claim age.
Your projected savings cover spending and pre-Medicare healthcare through age 90 with current inputs.
Retiring at 55 in the US means bridging two gaps: 55 → 59½ (when most retirement accounts are penalty-free), and 55 → 65 (when Medicare kicks in and health premiums drop sharply).
The calculator uses your taxable brokerage and Rule-of-55 401(k) balance as your bridge, and adds an ACA-style health premium until age 65.
You can claim as early as 62 (~30% reduced), at your Full Retirement Age of 67 (born 1960+), or wait to 70 for delayed retirement credits (~+24% vs FRA). Claiming later usually wins if you have the bridge funds to wait.
Grab your estimated benefit from ssa.gov and drop it into the calculator.
If you leave your employer in or after the calendar year you turn 55, you can withdraw from that employer's 401(k) or 403(b) without the 10% early withdrawal penalty. Income tax still applies, and it doesn't cover IRAs or old 401(k)s from prior jobs.
Yes, but normally with a 10% penalty plus tax. The main exception is a 72(t) SEPP — Substantially Equal Periodic Payments — which locks you into a strict schedule for at least 5 years or until 59½, whichever is longer.
Most early retirees use the ACA marketplace, COBRA for up to 18 months, or a spouse's plan. Premiums vary widely — $800–$1,500/month is a reasonable planning number; ACA subsidies can lower this significantly if your taxable income is modest.
If you have enough bridge savings and average life expectancy, waiting until 67 or 70 produces a much larger inflation-adjusted check and acts as longevity insurance. Claiming at 62 makes sense if you need the income or have a shorter expected lifespan.