I retired a year and a half ago at age 62. In my case it was not unexpected and my wife and I had been planing for it for over five years. We crunched the numbers and maximized my deferred compensation account for the last five years. I worked for the state of NY for 32 years and as a result have a defined benefit pension and once I was able to hit the required number I had no qualms about pulling the plug. My wife also has a defined benefit pension. That along with SS has provided enough income so that we haven't had to touch our savings. My wife went back to school and got her masters in social work. She's currently working part time as a therapist which she finds very rewarding and is able to manage her schedule to suit her.
I'm able to use my accrued sick time to pay for my health insurance so that is covered.
When all is said and done I'm actually accumulating more money than when I was working. I am, admittedly, a man of simple pleasures so our overhead is quite manageable. I did however purchase my dream bike as a retirement gift to myself, Pinarello Dogma F8.
I totally enjoy the freedom of being able to do what I want to do when I want to do it. You have to decide for yourself but if you can swing it financially I say go for it and don't look back.