8. You’ll Miss Out on Crucial Catch-Up Years

Not all saving years are created equal. You may wonder what this exactly means. Well, people tend to make more money as they advance in their careers. Moreover, aging Americans have less financial burden when their children finish college or their mortgages are paid.

That usually coincides with the time the IRS’ catch-up contribution rules kick in. Retirement accounts get favorable tax treatment, so there’s a maximum on how much you can contribute each year.

When you hit 50, the IRS extends those limits by thousands of dollars per year, depending on your account type. If you retire early, you miss the chance to save as much money as possible using tax-privileged accounts during what are probably your prime earning years.