Ready For Retirement We're 62 with $2M: Retire Now or Wait?
Oct 18, 2025
A couple contemplates retirement at 62 with an impressive $2M savings. Insightful strategies demonstrate how timing and travel can bolster financial security. The discussion highlights the 'income canyon' — the gap between retiring and receiving Social Security benefits. By prioritizing travel in early years and planning a strategic downsizing in their mid-70s, they can enjoy retirement without extending their working years. Listeners learn about the pitfalls of the 4% rule, creating a sustainable spending plan, and maintaining flexibility in the face of shifting expenses.
AI Snips
Chapters
Transcript
Episode notes
Couple Case Study: Assets And Retirement Age
- Michael and Lisa are 62 with about $2M in retirement accounts and ~$900k home equity.
- They consider retiring at 65 and test whether their portfolio covers $14,000/month expenses without Social Security until 70.
Income Canyon Between 65–70
- The key question is whether income flows can meet expense outflows each year.
- Withdrawals spike pre-Social Security and then drop dramatically once benefits and mortgage payoff arrive.
Don’t Automatically Choose More Work
- Working three extra years raised their success probability from 24% to 65%.
- But weigh financial gains against lost health, energy, and earlier enjoyment of retirement.