What are your dreams of retirement, financial freedom, time to travel, time in the garden, time with family and friends. This has been the basis for much of our daydreaming, the pleasant reveries that get us through difficult days. It is recognized that for our continued good health there is an ongoing need for social and mental stimulation. In fact the whole concept of "retirement" is rapidly evolving as we are living longer and there is more around to keep us involved, particularly as many of the baby boomers are computer literate and can access many options and further their interests online.

You need to do some lifestyle planning. Some people are focused on leaving their employment but they haven't thought through how they will actually fill their day. After an initial period of euphoria, one can begin to feel disengaged with no regular routine. There are some who look forward taking up a hobby they had when they were younger, like painting or playing a musical instrument, only to find that they don't really have enough skill in that area to make the activity fulfilling to them.

Baby boomers definitely don't want to be "put out to pasture". Many are looking at part-time work, exploring new options like establishing their own home business, plus with some time on their hands, they can become involved in voluntary work for the community. All of this helps to maintain self esteem by achieving in their chosen area.

Then there is the harsh reality of financial issues. If you retire early, you will need to generate an income large enough to support you for 20, 30 or more years. This is a daunting prospect without a regular salary (not to mention raises) coming in. Will your nest egg fully fund your current lifestyle plus any extra for your retirement dreams? This can be a spur to change the journey.

The task of turning your savings into a reliable income that will support you for a long retirement is a challenge for all of you who are retired and those who are planning your eventual retirement, but it is especially daunting for early retirees because you will be making withdrawals from your nest egg for a longer period. Not surprisingly, if you retire early, it increases the chance that you may run out of money before you run out of time.

If you do all the planning and find that you are ready emotionally and financially to pull the pin on employment early, then go for it and enjoy.

If your studies show that to fulfil your dreams your nest egg needs incubating for quite a while yet, it is time to do your due diligence and look for the alternatives out there rather than leave it too late and land with a thud.

Baby boomers have a wealth of life experience to carry them through the learning stages of a new journey and because most of have enjoyed a vastly improved lifestyle, there is the drive to become committed to success in any new endeavour.