I’m 52 with $4 million saved – but I’m worried about the years before I start Social Security and I don’t want to tap into my savings

Core Insights - Many individuals, despite having significant savings, feel insecure about their financial readiness for retirement, particularly in the context of recent inflation trends [1][5]. Financial Preparedness - A case study highlights a 52-year-old individual with a net worth of approximately $4 million who is contemplating early retirement at age 55, before becoming eligible for social security benefits at age 62 [2][3]. - The individual has an annual income of $500,000 and maintains a modest spending lifestyle, covering all major expenses [3][6]. Retirement Strategy - The proposed strategy of gradual retirement starting at age 55 allows for testing the sustainability of cash flow before fully retiring [3][5]. - Concerns about financial security in retirement are common, even among those with substantial savings, indicating a psychological aspect to retirement planning [5][6]. Lifestyle Considerations - The phenomenon of "lifestyle creep" may affect individuals with higher incomes, leading to increased spending that could impact retirement readiness [6][7]. - Despite the individual's high income, they are perceived as financially responsible and frugal, suggesting that they are unlikely to face financial difficulties in retirement [7].