Is retiring at 56 with $5 million too risky because of the market?

Retiring early can be appealing due to the freedom it offers, such as more personal time and travel opportunities. However, it carries financial risks, including the potential for exhausting savings and managing healthcare costs before Medicare eligibility. In a volatile market, like the recent downturn, concerns can escalate. A Reddit user shares their retirement decision at 56 with $5 million in investments. While market volatility is troubling, their sufficient assets may buffer against unexpected expenses, emphasizing the importance of proper asset allocation and financial planning.

Retiring early carries risks, such as running out of money, but proper asset allocation and sufficient savings can mitigate these concerns.

Read at 24/7 Wall St.