Retiring at 62 and filing for Social Security can reduce lifetime benefits by up to 30%. A person with $2.5 million in a Roth IRA may feel comfortable retiring at 62, despite the impact on Social Security. A financial advisor can help plan for retirement and avoid miscalculations.

With a $2.5 million Roth IRA, a retiree can plan for generous withdrawals using the 4% rule. However, caution is advised in following this rule. Market volatility and inflation are key risks that need to be managed with the help of a financial advisor.

Determining lifestyle expectations is crucial in retirement planning. A $2.5 million Roth IRA and Social Security benefits of $2,572 per month can provide around $130,000 in the first year of retirement. Lifestyle choices will dictate whether this amount is sufficient to meet retirement needs.

Planning for retirement spending involves estimating how much less will be needed. A financial advisor can assist in building a comprehensive retirement plan tailored to individual needs and goals. Keeping an emergency fund on hand is also essential for unexpected expenses.

Read more at Yahoo Finance: Can I Retire at 62 With $2.5M in a Roth IRA and $2,500 From Social Security?