If you have $400,000 in the bank you can retire early at age 62, but it will be tight. The good news is that if you can keep working for just five more years, you are on track for a potentially quite comfortable retirement by full retirement age.
Although previous generations like baby boomers may have gotten away with smaller financial goals, by the time Gen Z and millennials retire, they will need around $120,000 to $150,000 per year to live comfortably, making $3 million the average amount they need to retire.