A Redditor, nearing 55, worth nearly $12 million, is contemplating retirement. His wife stopped working 2.5 years ago, and he wants to ensure financial stability before making the jump. With diverse income from real estate, including $1.18 million in stocks and $10.4 million in property equity, he seems well-positioned. With annual expenses around $200,000 and substantial rental income, he could potentially retire early despite considering future education costs for his children. Selling his primary home could further ease his financial concerns as they approach retirement.
To see if the Redditor is ready to retire or not, let's take a close look at his financial situation.
Running the numbers to see if retirement is in the cards, the Redditor will need to look at his savings and spending needs.
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