I was recently laid off as a manager in a technology role. I'm 57 years old. My wife is two years younger and will work for a few more years. Our house and cars are paid off. We live in medium-high cost of living coastal city. I had planned on retiring later this year, but the lay off likely started my retirement early. I received a six-month severance package. I will decide if I'm really done working after taking the summer off.
We have saved $5.3M and budget around $180k spending per year. Our assets are 70% stock and 30% bonds and cash. About 60% of the assets are in retirement accounts and 40% are in a brokerage account. We were able to save this much money over the last 15-20 years with good paying tech jobs and company stock. For most of that time, I held 100% stock and did not start shifting into bonds until the last couple of years.
We reached $1M in 2014, $2M in 2018, $3M in 2021, $4M in 2024, and $5M in 2025.
I appreciate the wisdom of this subreddit, which helped show me what is possible!