My SG was 1.050 (recipe called for 1/058-1.062 so i was a bit off).
Was this a full boil or did you top off with water? With an extract kit, as long as your volume is correct, the OG will be what's specified. So the low OG reading is probably just due to stratification of the water and wort.
The problem is that the fermentation stated the following day and appeared to stop in about 2 1/2 days. I let it sit for an additional 3 days (7 days total) and then today transfered it into secondary. The reading i took today said that it was 1.020 (FG should be 1.014-1.017).
2.5 days of active fermentation wouldn't be unusual for a ~1.060 beer, especially if the temperature was on the high side (over 68°F, and that's beer temp, not air temp).
NEVER transfer a beer that hasn't reached the targeted FG. Taking it away from the yeast will just make it harder to get restarted, assuming you could anyway. In this particular case, though, I don't think a 1.020 FG is all that unusual. Warm it up into the low 70s and swirl it up a few times a day. If it wasn't finished fermenting, there will still be some yeast present and that will let them finish up. Then in another week or two, if the gravity hasn't changed, you can keg or bottle.