Many dream of early retirement, and with a large savings (like $4 million), it can be a reality. However, careful planning is crucial, especially since Social Security benefits may not be accessible immediately. A Reddit user, aged 52, is contemplating retirement and wants to determine if their savings will suffice until Social Security starts. While they potentially can retire early, they need to consider factors like withdrawal rates to ensure longevity of their funds and manage living expenses effectively, especially since they have no mortgage and have saved for their kids' education.
The quick answer is that they may be just fine to retire in their 50s, even if Social Security isn't available to them for quite some time.
If the poster stops working in their 50s, their $4 million nest egg could need to last for 40 years, so they'll have to be careful about how much money they withdraw.
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