A nest egg worth eight figures is often enough to support a very comfortable retirement, depending on lifestyle and spending habits. In many cases, it could even support multiple individuals, though that ultimately depends on financial choices.
However, as of May 2026, the psychological safety of that $10 million is being tested by an inflation rate that has surged to 3.9%, significantly outpacing the recent 2.8% Social Security cost-of-living adjustment. Still, some people with even more than they may need for retirement hesitate to make the leap. And just because you can retire doesn’t necessarily mean you should. The great Warren Buffett is still going strong in his career, largely because he enjoys his work. In one’s mid-50s, there’s typically no societal expectation to retire early, even for those who’ve amassed a $10 million fortune.
In this piece, we’ll check in on a Reddit user on r/fatFIRE who says he has sufficient financial resources to retire early but is feeling hesitant about pulling the trigger. The OP doesn’t exactly sound like he enjoys his job, based on the descriptions he provides. Notably, he referred to work as “increasingly unappealing,” while also mentioning how nice it would be to focus on hobbies (such as golf, reading, and the like).
If someone is experiencing burnout, dreads going to work each day, and has substantial savings, retirement may seem like the most obvious move. So why does the OP have second thoughts? Let’s explore some of the potential reasons someone in this position might struggle to leave the workforce.
Early retirement isn’t for everyone. Mid-50s is still relatively early compared to typical retirement ages.
Even those who have long planned to retire early can struggle to follow through when the time comes. Continuously raising one’s “FIRE number” is common among individuals who aren’t quite ready to step away from work, even after reaching their original goal. Today, this anxiety is often fueled by the “Tax Torpedo,” where rising benefits and required distributions push retirees into higher federal tax brackets. For someone with lingering doubts, continually pushing back the target number may actually be a way to avoid retirement. Afterall, transitioning suddenly from full-time work to retirement can be difficult to adjust to.
Additionally, some people may question the decision to retire at a relatively young age. The FIRE movement is still not the norm, and many people continue working into their 60s, despite the fact that full retirement age for Social Security is 67 for many Americans. However, recent legislative shifts like the 2025 Social Security Fairness Act have repealed the Windfall Elimination Provision, potentially providing a more stable floor for those with public sector experience. While retiring early and on your own terms will almost certainly be rewarding, those who feel anxious will likely benefit from taking more time to think through the decision. It’s a major life change and not one to be taken lightly.
The golden handcuffs are tough to escape.
While $10 million is considered more than sufficient for retirement, lifestyle choices play a major role in determining whether it truly feels like “enough.” For those used to a high income, daily luxuries, or an expensive lifestyle, leaving a job with a high salary can be challenging, especially when incentives like bonuses, raises, promotions, or additional perks encourage you to stay. New provisions in the SECURE 2.0 Act, such as “Super Catch-Up” contributions for those aged 60 to 63, add a new layer to these “golden handcuffs” by incentivizing a few more years of high-velocity tax-advantaged saving. The so-called “golden handcuffs” can be difficult to break, particularly for someone in their 50s who is still in their peak earning years.
As such, it may be helpful for someone in this position to consult a financial advisor or a career counselor to talk through their goals and priorities. The key advantage is having financial flexibility and options. From there, the focus can shift to determining what kind of lifestyle and daily routine will be most fulfilling.
The Emotional Side of Walking Away
Walking away from a long career isn’t just a financial decision, it’s an emotional one. For many people, work provides structure, purpose, and a long-cemented sense of identity. Even if the job has become less appealing through the years, it can still be hard to let go of the familiar routine, accomplishments, and social connections that come with it. This is especially true for people who have spent decades building their careers and take pride in what they’ve achieved.
There’s also plenty of uncertainty that comes with the unknown, and it is often human nature to feel anxious over uncertainty. In the current landscape, this includes concerns over the long-term solvency of Social Security trust funds, now projected to 2034, and the rapid integration of AI into professional infrastructure. Without a job dictating how to spend their time, some retirees worry about boredom, isolation, or a loss of direction. Others may feel hesitant to give up the security of a good, consistent paycheck, even if they no longer need it. Ultimately, the challenging question potential retirees must answer isn’t whether they can afford to retire; it’s whether they’re mentally and emotionally ready for what comes next.
Editor’s Note: This version incorporates updated 2026 macroeconomic data regarding inflation and Social Security cost-of-living adjustments. It also includes references to recent legislative changes including the Social Security Fairness Act and the specific “Super Catch-Up” contribution limits established by SECURE 2.0. Additional context has been added regarding current trust fund solvency projections and the impact of emerging technologies on retirement psychology.
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