Chris Ryan/Getty Images
6. Your portfolio can withstand losses
Because everyone's standard of living is different, there's no magic amount that automatically qualifies you for early retirement.
But a portfolio that is large and diversified by asset class can protect you in bad markets. A portfolio that's composed of different types of tax-deferred and tax-free assets is more likely to generate enough income to sustain a long retirement than one that isn't.
One gauge of whether you are ready to retire is the amount you have saved as a multiple of your income. According to Fidelity Investments, you should save at least 10 times your pre-retirement income by age 67 to ensure a secure retirement. If you want to retire earlier than that, you should probably aim for more.
Start a savings account now for your retirement. Compare savings account rates today!