Although there is a standard age prescribed by the law when people can decide to retire, that age does not have to be a rule of thumb and can differ from person to person. First, you need to decide when it is that you would like to retire. Once you have that decided, you can go ahead and set a timeline for your retirement savings. Ideally, the earlier you start saving, the better the returns that will come to you when it is time. This will ensure that you have a comfortable lifestyle even when you have stopped working.