Could You Leave Canada? Plus, 14 More Things to Consider if You Want to Retire Early

It may sound wonderful not to have to worry about work, but will you be able to deal with the new lifestyle? MarketWatch says that if you'll miss your work colleagues, want to stay in the loop or if your identity is defined by the work you do, you may not be ready to retire.

On the flip side, if you're very much looking forward to this time, follow these 20 tips to get on track to retire at 50.

According to MoneySense, the amount of time you'll be spending with your partner can easily double after retirement. Will you both be able to cope with each other's annoying little habits and not drive each other crazy? On the other hand, you may take on a new project or adventure together, such as moving to one of these cheapest cities to live in Canada.

You'll need an amount of about 70 per cent of your current income to retire and still live the lifestyle you're used to. Service Canada has a handy online retirement income calculator that will help you determine how much you can expect to receive from different sources of income, including your OAS pension.

And if you need a cheaper place to retire, check out 10 great places where you can retire for under $2000 a month.

The Canada Revenue Agency says that as soon as you start receiving payments from your Registered Retirement Savings Plan, you'll need to start paying taxes on that income. However, you can reduce your tax when you contribute to an RRSP.

You may also like: retirement tax tips to save your nest egg.

Woman's Day suggests that you create alternative sources of income to supplement your pension. The earlier you start, the better, so make wise investments that will pay dividends or buy extra properties for the rental income. If you're not sure where to start, check out our list of 20 ways to earn money while you're sleeping.

According to MoneySense, many employers allow highly-skilled retirees to come back for short-term contracts as consultants or mentors. Of course they'll have much more incentive to call you in for short projects if you have skills that are indispensable.

MoneySense says that even though as many as 40 per cent of employees in Canada have access to the kind of savings program where employers contribute as well, only one in five people who can use this option actually does so. Check with your employer what programs are available and sign up for these, since it's essentially free money.

Related: 17 ways you're shamelessly bleeding money.

The Huffington Post says that you need to think about what your home actually costs you. Even if you can afford the mortgage after you've retired, you also need to take into account the cost of utilities and maintenance. It might make sense to move to a cheaper home. It's just one way you may be able to retire with millions.

This was noted in passing earlier, but one way of making your retirement income go further is to move to a retirement haven. We've prepared a list of places that are great options for Canadians to retire to, taking into account factors such as access to and quality of healthcare, property prices and quality of life.

MoneySense suggests that you also look beyond Canada's borders for good places to retire to. Countries such as Mexico, Costa Rica, Panama and Malaysia have a much lower cost of living, great weather and excellent healthcare.

Consider one of the top 20 best places for Canadians to retire around the world.

As the Huffington Post says, you will need to take into account your medical expenses. In Canada the cost of healthcare generally isn't such a big worry, but if you decide to relocate to another country, you will need to be able to pay for those little ailments that will increase as you get older.

Woman's Day says that if you want a successful early retirement, you need to live debt free. In other words, start paying off your debt as soon as you can so that by the time you retire, you won't have to cover the mortgage or other debts.

For more retirement tips, don't miss the 12 costly mistakes that can ruin retirement.

Another tip from Woman's Day is to learn to live within your means so that you won't accumulate debt. This means that you may want to consider downsizing your lifestyle once you retire.

According to MoneySense, the average life expectancy for a Canadian who's made it to 65 is 83 for men and 86 for women. Though, as the website points out, these are averages and you may live much longer than that. Are you willing to spend as much as a quarter of your life in retirement? It can be a huge life change when this time comes. These 20 tips for adjusting to retirement can help make it easier.

MarketWatch says that to age successfully, you need to focus on three things especially: regular exercise, a healthy diet and staying in touch with other people. Where do you fall on each of those scales? One way to tell is this handy list of 20 hidden signs you're not as healthy as you may think. Do you have a plan of action to make sure early retirement will be enriching rather than turning you into a couch potato?