Retiring early is not an actionto be taken lightly. Here are some things to consider first.(Photo: Shutterstock)

So you've been looking forward to retiring early—whether out ofdistaste for your current job or because of a burning ambition todo something else with your life. And it's so close now that youcan almost taste it.

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But wait, not so fast—retirement is tough enough, let alone earlyretirement that could see you spending anywhere from 30 to even 50years out of the workplace, depending on when you actually leaveyour job and whether your family is known for its longevity.

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Marketwatch reports on a blog at Our Next Life that hassome questions you should ask before you jump into early retirementwith both feet, lest you find yourself (and your significant other,if any) in over your head. And it makes a good point: earlyretirement not only can't fix everything that's wrong with yourlife now, it can create new problems and stressors if you're notprepared for it.

And that means not only the financial side, but the emotionalside as well. Both need to be carefully considered, thoroughlyexplored and then planned for in advance.

Here are the 10 questions you should be able to answer beforeyou even commit to an early retirement, lest you find once you'vedone it that it's not at all what you thought it would be.

10. How will you define yourself and derive self-worthpost-career?

It may surprise you to hear this, particularly if the reasonyou're so determined to retire early is that you hate your job oreven your whole career, but many people self-identify as what theydo—and when they give that up, they feel as if they've been castadrift.

Worse yet, people have been known to die prematurely in theabsence of a job that defines them.

While that's less likely to happen when you're younger, and morelikely to happen to those who are laid off than to those whovoluntarily chuck a job, it's something to keep in the back of yourmind as you try to figure out where your life goes once the job hasgone away.

Do you have a “life mission” in mind? How will you fill yourdays? What will give your time meaning? And what do you want toremember about your life when you're very old?

9. How will you and your partner, if you have one, stay on thesame page about money and life goals?

You may want to retire early, but it's possible your partnerdoesn't—or perhaps your partner is the one bound and determined toleave the working life behind, and you're going along to getalong.

But if you don't have common—or at least compatible—goals, aswell as shared attitudes on money, common objectives and what, ifanything you're willing to sacrifice to sustain an early retirementgoal (cutbacks in lifestyle? Relocation/downsizing? Moving to a newstate or even country?), you could both be in for a load oftrouble. 

8. What will your social circles and interactions be like?

Will you miss your friends, or are you socially unattached inyour current environment? Do you make friends easily, or is socialinteraction a struggle? If you're staying where you are, will youeven be able to see your friends once you retire, or will theirwork schedules preclude extra get-togethers?

And will you hang out with your spouse or partner, or could thatturn out to be a minefield? If you don't share hobbies orinterests, or aren't comfortable operating independently of oneanother, you could be in for more misery than yourealize. 

7. What do you want a day in retirement to look like?

Have you thought about what you really want to do, day to day,once you've retired? If you have big plans, like a world trip or avolunteer mission, is it practical for your financial and physicalstatus? Or do you plan to park yourself in front of the computer orthe TV and veg out?

Give serious thought to what will fill the hours of a day nolonger monopolized by a job, lest you end up drifting through therest of your life and regret it in the end. 

6. What will your living situation be?

Will you continue to live in your current home? Downsize? Selleverything, buy an RV and hit the road? If that last, will you havethe money set aside to do something permanent, like rent or buy, ifhealth or age concerns put an end to your carefree odyssey?

If you're going to stay put, will you have enough money to keeppaying your mortgage or rent, or can you pay off your home? Willthere be enough in the bank to handle property taxes, repairs andutilities? You know they're going to go up as the yearspass. 

5. What are you retiring to?

Not boredom, surely—but make sure you have some objectives inmind, whether they're on a bucket list or are just the sort ofactivities that make you want to get out of bed every day.

This is especially important to consider, particularly if you'replanning to burn any bridges on your way out the door at work—whatif you find you have to come back to a job because you just can'tstand the day-to-day monotony of a retirement that wasn't thoughtout first? 

4. How will you keep your body and mind healthy?

Do you know how to stay healthy and how to keep your mind activeand quick without the company's gym and cafeteria and without thedaily challenges of the job? Can you cook if it isn't delivered, ordoesn't come out of a can or a box in the freezer? Are younaturally active, or do you plan to become active once you're notchained to a desk?

What will stimulate your thoughts, and are you up to learningnew things—sports, musical instruments, chess—to keep those neuralnetworks firing away at peak efficiency? 

3. How will you get health care?

The American health care system is  nothing to boastabout, but it could get a lot worse as politicians continue tobattle it out over the Affordable Care Act and proposed“replacements.”

Do you have the financial means to keep yourself and a partnercovered until you're old enough to qualify for Medicare?

Or will you make the point moot and move outside the U.S. to aplace where health care is provided to everyone? 

2. What is your backup plan for dealing with financialemergencies or hardship?

Even if you've saved for an early retirement, have you thoughtof everything? Things like homeowner's and renter's insurance don'tcome cheap, nor do vehicle and umbrella policies (remember that RV?What if somebody runs you off the road and your home on wheels iswrecked?

What if you're renting your home out via an Airbnb arrangementand come home to find the place trashed—or a visitor injured andsuing you?)

What if there's a natural—or a financial—disaster? Do you havean emergency fund that can carry you, at least for a while? Canyou, and will you, go back to work if necessary?

1. How will you support yourself or your family without a job?(And will that change over time?)

Once the paycheck is gone, you'll still need money—even more ofit than if you waited till closer to a standard retirement age toretire.

Do you have enough suitable investments to keep earning onceyou're not? Will you work part time? Rent out your home—orproperties you invested in with that goal in mind? Are your assetsincome-producing?

Will you help any offspring pay for higher education? If so,with what? And what if the market goes south? Are you secure enoughto weather a financial storm?