Ask an Advisor: I'm 47 With $1.87 Million But I'm ‘Burned Out' From My Stressful Career. Can I Retire Early at 51?
View original at finance.yahoo.comAsk an Advisor: I'm 47 With $1.87 Million But I'm ‘Burned Out' From My Stressful Career. Can I Retire Early at 51? Help me! I read the column frequently-huge fan!I'm 47, married, and severely burned out after 25+ years in a fast-paced and stressful field…
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If spending needs are similar to average person, Scott can almost certainly retire at 51 with his assets
80% confidenceScott is probably looking at a very active period for the next 15-20 years based on his age
80% confidenceActual Social Security benefit is likely to be meaningfully lower than statement estimates for early retirees
80% confidenceSocial Security statement estimates won't be accurate for early retirees because they assume continued earnings at current level
80% confidenceRetirement success is driven by whether assets can reliably support spending, not by portfolio size alone
80% confidencePlans to sell primary residence in around three years and buy something all cash somewhere warm
80% confidenceSeverely burned out after 25+ years in a fast-paced and stressful field
80% confidencePeople tend to spend more in early retirement years when active, with spending slowing with age and picking back up for health expenses
80% confidenceMost people with Scott's assets and income sources would be able to comfortably retire at 51
80% confidence