A 61-year-old man with $1.65 million in retirement funds contemplates retirement at 62, but his son, a CFP, advises waiting until 67 for full Social Security benefits. The man’s wife has a modest pension as a retired teacher. The couple is debt-free but faces health insurance costs preventing early retirement.

Retirement calculations suggest waiting for Social Security benefits would be worth it, given the couple’s combined retirement funds and wife’s pension. The wife’s Social Security benefits are contingent on being married for at least 10 years. Medicare enrollment is crucial for health coverage as costs can exceed $15,000 annually.

The man’s annual expenses are estimated at $75,000, factoring in Social Security benefits and the wife’s pension. His retirement funds are projected to last until they are both 100 years old, providing a comfortable retirement. Despite the challenges of selling products, the man’s retirement dreams are financially feasible with proper planning.

Read more at Yahoo Finance: My wife and I have $1.65 million. I’m 61. Can I retire already?