From Yahoo Finance: 2025-03-27 08:30:00

Retiring early requires careful planning around income and spending. Managing a portfolio for long-term drawdowns, new needs like health insurance, and a fixed income is crucial. Investing wisely can generate 5-6% annual yields with minimal risk, providing sufficient income for expenses. Hedging against inflation is essential, as personal inflation rates may differ from national averages. Personal inflation can erode your spending power quicker than expected, making it important to manage risks and budget projections. Early retirees must anticipate healthcare costs, including insurance coverage and long-term care. Delaying Social Security benefits until 70 can provide a significant inflation hedge. Planning for a comfortable retirement means investing for growth to maintain your standard of living. At age 55 with $2 million in the bank, early retirement is possible, but consider factors like inflation and health insurance. Certain states are more affordable for retirement. A financial advisor can help create a retirement plan tailored to you. Keep an emergency fund in a liquid account. Financial advisors can utilize SmartAsset AMP for marketing solutions.



Read more at Yahoo Finance: I’m 55 With $2 Million and $6k in Monthly Expenses. Am I Ready to Retire?