If you’re thinking about retiring early in your 40s or 50s, you’ll want to carefully weigh this life-changing decision. Leaving behind a job you don’t love could be attractive, but there are also financial and social considerations. Ultimately the chance to leave employment in the past comes with some great features along with some concerns you’ll need to sort out.

The pros of retiring early include:

• Freedom from office constraints.
• Time to pursue passions.
• An improvement in well-being.
• The chance to choose additional work.
• The cons of early retirement can be:
• Years of no income.
• A potential health insurance crunch.
• A loss of meaning.
• Feelings of loneliness.
• Evaluate the advantages and disadvantages of early retirement and then lay out a strategy that’s best for you.