My wife retired 2 years ago and I’m still working – is our $12 million net worth enough for me to join her in retirement?

• One Reddit user with a net worth of nearly $12 million is considering retirement.

• His wife quit her job a few years ago and he wanted to live with her but wanted to make sure his money would last.

• Since his income comes from a variety of sources, including real estate investments, early retirement may be possible.

• A recent study found that there’s one habit that can double Americans’ retirement savings and take retirement from a dream to a reality. Read more here.

How much do you need to invest to retire comfortably? This is a very common problem among older Americans, and it’s one that one 54-year-old Reddit user is struggling with. His wife of 49 years had broken up 2 1/2 years ago, and he wondered if he could do the same.

To make this choice, the Reddit user needed to look at the money he had saved and invested, as well as his spending needs, to determine whether his savings would be enough to support himself and his family if he retired at a very young age.

To find out if this Reddit user is ready to retire, let’s take a closer look at his finances:

• His net worth is $11.8 million

• He owns $1.18 million in stock, $10.4 million in property equity, $6.1 million in rental properties, $950,000 in land, $300,000 in cash, and a primary residence worth $3.3 million

• After taking into account all costs, he generated approximately $230,000 in cash from rental properties

• His income fluctuates between $300,000 and $500,000

• His expenses were approximately $200,000 (excluding taxes)

He also said he probably has another seven years or so of college tuition to consider, but may be able to sell his $3.3 million home while his children are in school, freeing up more money to invest and earn income.

So, at the age of 54, can he quit his job and retire early? He could be laid off right now based on the income he earns from rental properties alone even He may incur additional health insurance costs after his employer no longer subsidizes premiums.

This is especially true since most of his income comes from real estate investments and there are many tax breaks available to those in the industry.

This Reddit user’s high net worth might make early retirement a no-brainer, but the poster still has questions and concerns — which is common. Deciding to trade a steady paycheck for the uncertainty that comes with using your investments to support yourself can be quite a challenge.

To make sure you’re truly prepared and feel more comfortable about your retirement prospects, it’s often worth talking to a certified financial planner or other expert before quitting your job. Your financial advisor can help you make sure you don’t regret your decision to leave your job, especially if you’re considering retiring at a younger age and you have decades of life left that require investments to support you.

In this case, an advisor can also provide valuable assistance on how to minimize taxes on income, and can also help develop an effective retirement withdrawal strategy that takes into account all of the OP’s different sources of income. By getting professional help, the Reddit user who posted the post can feel more confident that he and his wife can live a comfortable life even as he heads into retirement with her.

Most Americans vastly underestimate how far they will need to retire and overestimate how ready they are. But data shows that people who have a habit will have more than double Savings for those who don’t.

No, it has nothing to do with increasing your income, saving, cutting coupons, or even reducing your lifestyle. It’s simpler (and more powerful) than any of them. Frankly, it’s shocking that more and more people aren’t adopting this habit, considering how easy it is.