We’re 62 With $1.8M—Can We Retire This Year and Keep Our Lifestyle?

Having $1.8 million saved for retirement sounds like a lot of money—but does it actually mean you can retire?

The better question isn’t simply “How much do we have?”

It’s “How much can our savings safely provide each month, after taxes, while allowing us to maintain the lifestyle we want?”

In this episode of The Fit Wealth Show, Shawn Hanquist, CFP®, walks through how a couple approaching retirement can begin turning a $1.8 million portfolio into an actual retirement paycheck.

Rather than relying on one withdrawal rule or portfolio number, Shawn breaks down the different pieces that need to work together—from spending and taxes to Social Security, healthcare, investments, and the critical years between retirement and age 70.

In this episode, we cover:

• Why your monthly after-tax spending need matters more than your net worth alone

• How to separate retirement spending into needs, wants, and unexpected expenses

• Why the years between 62 and 70 can be some of the most important years in your retirement plan
• How sequence-of-returns risk can affect retirees who begin withdrawing during a difficult market
• What the 4% rule can—and can't—tell you about retirement readiness
• How a guardrail strategy can help create a more flexible retirement paycheck
• Why $1.8 million in a 401(k) is very different from $1.8 million spread across pre-tax, Roth, and brokerage accounts
• How taxes can significantly change the amount of money that actually reaches your checking account
• The tax-planning opportunities that may exist between retirement, Social Security, and required minimum distributions
• What to consider when planning for healthcare before Medicare
• Why long-term care should be considered as part of your overall retirement risk plan

Can You Retire at 62 With $1.8 Million?

There isn't one universal answer.

A stronger retirement plan looks beyond the size of the portfolio and asks whether all the pieces work together.

• Do you know how much you actually need each month after taxes?
• How will you fund the years before Social Security?
• What happens to your withdrawals if the market falls early in retirement?
• Where will your income come from—and how will those withdrawals be taxed?
• Have you accounted for healthcare, unexpected expenses, and long-term care?
• And does your investment strategy actually support the income you're expecting it to provide?

Those are the questions that turn “I think we have enough” into an actual retirement income strategy.

Ready to Build Your Retirement Paycheck?

If you're approaching retirement and wondering whether your savings can support the lifestyle you've built, we'd be happy to help you look at the bigger picture.

At Fit Wealth, we help clients coordinate their investments, retirement income, tax strategy, Social Security, and long-term financial decisions into one comprehensive plan.

Start by introducing yourself at FitWealthAdvisors.com.

We'll review what you share and, if it looks like we may be a good fit, you'll be invited to schedule a conversation with our team.

Retire well. Live fully.

Advisory services are offered through Fit Wealth Advisors, LLC. d/b/a Fit Wealth, an Investment Advisor in the State of Nebraska. Insurance products and services are offered through Fit Wealth Insurance, LLC, an affiliated company. All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results. Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.