There’s a good chance you’ll regret retiring at 60 even with $1,000,000 saved — you need more so prepare yourself now

Meanwhile, the average American believes the "magic number" for most adults to retire comfortably is $1.46 million (3). Simply put, the ideal target is reaching well above seven-figures before 60.

If you're on track to hit these milestones, congratulations! But there are several reasons, besides the money, you may still end up regretting early retirement.

Surveys of actual retirees keep landing on the same uncomfortable finding: The regrets that haunt early retirees are not always about the money — they're about other things the paycheck quietly came with.

Here are three things you might want to consider before taking the plunge into early retirement.

1: A balance sheet becomes a burden

Carrying debt has different implications when you switch from steady employment income to a fixed retirement income. There's little room for error, and if you're carrying a lot of high-interest debt, it can quickly erode your budget, even if your nest egg is worth $1 million.

According to a national survey conducted by Talker Research on behalf of National Debt Relief, roughly 72% of Americans over the age of 55 had some debt (4). More strikingly, 62% said this debt was a surprise and that they didn't plan for having it at this stage in life.

From unexpected medical bills to sudden emergencies, even affluent retirees can find themselves with a hefty interest payment every month.

To minimize your risk if you find yourself in debt, consider consolidating all your debts into a personal loan through a platform like Credible. Instead of juggling multiple monthly payments, you'll have one predictable payment to manage each month.

Through Credible's online marketplace, finding the right loan becomes much simpler. Credible lets you comparison-shop for the lowest interest rates with just a few clicks.

In less than three minutes, you'll see all the lenders willing to help pay off your credit cards or other debts with a single personal loan.

If you owe a substantial amount, you may also want to see if you qualify for a debt relief program to help clear a significant portion of your debt.

With Freedom Debt Relief, you can speak with a certified debt relief consultant for free, who can show you how much you can save by partnering with them.

If you're eligible, they can negotiate settlements with your creditors until all of your enrolled debt is resolved.

2: A lack of mental challenges

Another reason to reconsider early retirement is your cognitive health. A study published in De Economist journal found that, on average, cognitive abilities steadily decline after retirement (5), meaning that your job and all the intellectual challenges you face daily at work might actually help keep you mentally sharp.

Fortunately, the fix could be very cheap: Try finding some way to challenge yourself on a regular basis. Whether that's community work, a new passion project, a part-time job, freelance consulting or a seat on a corporate board, some form of mental exercise could help keep you in the game.

That's where retiree-focused organizations like AARP can help by offering job boards and resources for retirees looking for their next challenge. At just $15 for your first year when you enroll in automatic renewal, their membership could be the cheapest insurance against a boring and unstructured Tuesday.