Can I retire at 54 with 2.5 million in investments?
I'm 54, single, no kids and want to retire next year. My total expenses are $70,000 per year, this includes health insurance. I live in hawaii and own my townhouse outright. My portfolio is currently 70% stocks, 25% bonds.
Retirement goals are to travel more which would increase my expenses to maybe $80,000 or $90,000 a year. I would also love to sell my townhouse in 5 years and buy a house. Townhouses are currently selling for $750,000. Houses are priced at around 1.2- 1.5 million. I did meet with a financial advisor and they said I need to keep working another 3-4 years. I'm not going to be able to do that. Thanks for any and all advice.