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Can I afford to retire at age 57, please advise?

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September 6, 2024

Snowbear posted: Hi everyone – I need your advice regarding my situation; although, it seems I might be fine right now, but am unsure.
As I’m single and aged 57 years, my house in Vegas, worth $725k and currently being rented at $2600 a month has already been paid off and paid rent on. At present I live with no rent but pay all costs associated with his second house (in Pennsylvania) plus spending approximately $2000 each month; car is paid for and no debt to deal with.
My current net worth stands at approximately $1.090000 million with my 401k valued at roughly that amount and my Roth worth about that much. Additionally, I hold about $57000 cash available in brokerage accounts that could potentially be sold off to provide spending money, yet that may not be an ideal move as only $50000 cash would remain for spending needs (I do know selling brokerage accounts would likely incur fees though) mes Please let me know your thoughts asap as that decision might help inform future decisions for my financial portfolio :). Thank you all so much in advance!

Welcome to Op: 1; more specific answers can be derived with more complete data provided from you in this format.
Your original post can be edited with the pencil icon to preserve all your data from being lost within thread narrative and exchanges, like this:nettoyage Portfolio Review Request
Otherwise, no idea of “your” financial structure exists and therefore there’s no perspective for actionable and substantive advice tailored directly towards “you.” So include in your edited list post items like these to provide context:
What is your “net” income stream from rentals (after expenses and fees, etc)?
Health Insurance Costs; What they Are Now and After Early Retire, Will Be Needing Transition from Affordable Care Act (ACA) To Medicare (MediCare). Also: contul 3 What Funds, Allocation and Allocation Level Are in Your 301k (5 mil right? 818889707170 9 5 What Is in your Roth 190K 9
Are You Paying Financial Advisor (or Similar Fees)? 7 If so, having at least 5k in cash reserves could help and tapping into these accounts could prove smart if done appropriately – there may even be ways around doing it! For more details regarding tapping accounts, follow this link and this one. – 8
Once retired…will your lifestyle remain similar or will something shift when estimating annual costs in retirement. (To see our estimate annual expenses of retirement click here ).
Are You Selling Or Able To Sell Your Las Vegas House If Needed as Part of Retirement Portfolio? How Much Equity Is In It And Can it be Sold For (If Required).
11 This information may prove beneficial in providing better visualization: “Engaging Data”, Retirement Projection Models etc.
Visit Engaging-data.com/early-retirem… and-tools/j for more details on early retirement tools and methods.

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