<prompt> Human: Hello - A bit of a lurker, so I thought Id create an account and see if others feel I am in good shape to quit my day job. Hopefully I am, but I can hang in there a few more years if needed!Im 57 and my wife is 54. Debt:Mortgage: 50k still owed estimated value at 415KNo other debtInvestments traditional 401k: 1,775,000SavingsWe have about 20k in an emergency fund. We have another 9k in a savings account that is there for any big purchases we may want to make. Havent made any in awhile, so its been building. In our current jobs we bring in 150k annually. Our expenses are as follows: Mortgage: 1750month Groceries: 400month Electric: 80month higher in summer, lower in winter Eating out: 200month Internettelephone: 57month Cell phones: 140month Heating oil: 175month 10 months of the year. Was higher this year due to extreme cold Auto insurance: 120month Home owners insurance: 600 annually Gas: 400 I have a 50 mile round trip commute currentlyWe do plan on traveling while we are still relatively young and still have energy! Wed love to travel to Europe, Asia, and really get out and see the good ole US of A. However before I get ahead of myself, I thought Id throw this post out there and see what the general feedback is. Perhaps there are things Im not thinking about? I just want to make sure I dont retire now and then realize at age 75 I made a mistake!Let me know if you need other info that I have not posted.Thanks PF-Bob TerryEdit: I used this site as a general calculator as to what I could withdraw. Based on a 5 return and 3 inflation lasting me 40 years just in case we hang in there! it estimated an annual withdrawal of 62k in year 1, and adjusts for inflation each year after that.  <response>: Please allow me to explain the often misunderstood 4 rule. In your first year, you withdraw 4. In subsequent years you adjust that dollar amount for inflation. You do not simply withdraw 4 of whatever is left in your portfolio each year. However the motivation for this was for academics and researchers to study retirement strategies. They needed a formulaic strategy. In real life, I would tighten my belt or look for part time work if there were an asset crash soon after I retire. Good luck you two! 