The article discusses the implications of having $8.5 million saved by age 40, presenting an argument for early retirement. With a projected annual income of $314,500 from this amount at a 3.7% withdrawal rate, the financial position is considered excellent. It highlights the importance of valuing personal financial goals over societal opinions, noting that while some may view early retirement as irresponsible, the individual who has achieved such savings deserves the freedom to enjoy their success without guilt. The article encourages readers to seek financial advice to assess their retirement standing.
When you are 40 years old with $8.5 million, you are in a truly fantastic financial position. With a safe withdrawal rate of around 3.7%, your nest egg should comfortably produce around $314,500 in annual income.
The opinions of others can largely be ignored when it comes to your retirement decisions. However, that gets harder if your close family or friends are telling you that you should not be retiring yet.
Ultimately, if you managed to save $8.5 million in your 40s, you must have done something right during your career. You deserve to be able to enjoy your financial freedom.
Are you ahead, or behind on retirement? SmartAsset's free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests.
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