We're in our mid-30s with $5 million in the bank and no debt - can we afford to stop working?

A Redditor with a net worth of $5.5 million is uncertain about retiring in their mid-30s, primarily due to their high monthly expenses and children. The couple spends $13k-$15k monthly and anticipates that certain expenses, like daycare, will decrease soon. Using the 4% withdrawal rule, they could withdraw $220,000 annually from their portfolio, but a more conservative 3% withdrawal rate might be wiser given their age and future expenses like college tuition. Overall, despite a substantial net worth, careful planning is needed before retiring.

The couple has a net worth of $5.5 million, but they are uncertain if they can retire yet, highlighting that a large net worth doesn't automatically assure retirement.

While a 4% withdrawal rate could yield $220,000 annually, the couple should consider a more conservative 3% rate, yielding $165,000 to ensure financial security.

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