<prompt> Human: 58 and just laid off from my IT job.Ive never been a FIRE guy more like an instant gratification guy but I thought this might be a good time to look at what I spend vs. what I have and decide if I want to get back into the grind, or maybe do something completely different, that doesnt pay nearly as much, if at all.As I started looking at some of the Retirement threads, I noticed a lot of guidance saying, expect your retirement spending to be 75-80 of your working salary. But when I look at my paycheck 2400wk, Im only taking home 1200wk, so am I getting by on 50 now?Big withholding percentage was maxing out my 401K 25 which I would stop doing.Another 7 was on Medical, etc., which I may be able to get covered by my wifes work.And finally 18 on taxes, which includes social security.That might put me closer to 60, but cutbacks are certainly possible.Ive got about 1M in retirement accounts, and the FIRE threads say to withdraw 4 per year, 40K.Social Security looks like:At 62... 24KyrAt 66... 33KyrAt 70... 42KyrSo, can I do it?What are the gotchas Im not considering?Thanks in advance for your guidance.  <response>: If you are currently taking home 1,200 a week, are you spending approximately all of this? That would mean your yearly expenses are 62,400. This is more than a 4 withdrawal rate of a 1MM portfolio could sustain. With social security, it might be possible, I would definitely put off SS withdrawal until 70 even if that means higher portfolio withdrawals over the next decade.Easiest thing to do is to simply lower your cost of living. Move somewhere cheaper! That it should definitely be possible to retire on 1MM with social security coming in with 12 years. If i were in your shoes, I would definitely figure out how to retire now. Spend a lot of time analyzing your historical spending, and plotting out what your spending will look like when retired. 