I'm 52 and have 2.5MM in an IRA (200k cash) and debt of just a $200k mortgage (and this is weaksauce compared to my peers who all became VPs or C*Os). And the idea of trying to live off an IRA that is currently stocks/bonds/ETFs scares the bejeebers out of me. I think it is more about the personality than the money: do you have the risk-tolerance like this guy to say "fuck it, it will all work out," or are you like me and think, "its still not enough ... inflation is gonna explode ... the market will collapse as soon as i quit ... if i stop working i'll never get hired again because i'm old ... if i retire early i'll probably get in car accident and go broke from medical bills...".
Some of us are just naturally full of panic, others can jump into the mist and be OK with that.
EDIT: Added this scene from Indiana Jones (#3) that has stuck with me my whole life (and I'm an athiest!):
Some of us are just naturally full of panic, others can jump into the mist and be OK with that.
EDIT: Added this scene from Indiana Jones (#3) that has stuck with me my whole life (and I'm an athiest!):
https://www.youtube.com/watch?v=q-JIfjNnnMA