Reported about 2 months ago
Retiring at 45 with $3 million is feasible, potentially providing an annual income of $120,000 through a safe withdrawal rate, but it requires significant savings discipline. Key challenges include accumulating that wealth, navigating 401(k) withdrawal penalties, securing health insurance before Medicare eligibility, and managing inflation. While retirement can offer more leisure and personal fulfillment, careful financial planning and possibly consulting with a financial advisor are essential to ensure sustainability over the long term.
Source: YAHOO