A 50-year-old individual with close to $2 million in retirement, investments, and savings is worried about losing their job due to a company reorganization. Monthly expenses of $6,000, including rent, are a concern, raising questions about early retirement and health insurance.

If laid off, the individual has $2 million in retirement savings, allowing for a 4% withdrawal rate of $80,000 annually. Social Security benefits and finding another job are viable options, but age-related bias may impact job prospects.

The 4% rule supports retirement for at least 30 years, with a “magic number” of around $1.26 million needed. Rising health insurance costs and rent inflation are key considerations for early retirement at 50.

Health insurance costs post-ACA subsidy expiration, potential premium spikes, and rent increases pose challenges to early retirement. Full/part-time work and expense reduction are suggested.

Read more at Yahoo Finance: I’m 50 with $2 million and I’m scared about losing my job. Can I retire early?