Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTVishesh RaisinghaniSun, August 23, 2026 at 2:45 PM GMT+2 6 min readORION Production/ EnvatoMoneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.Americans participating in a workplace retirement plan believe they need roughly $1.46 million to retire comfortably, according to Northwestern Mutual (1). So it's safe to assume that if you have $2 million, you would retire right away.But for some millionaires, giving up their career and regular income isn't easy. Older workers might aim for "just a little more" before leaving work permanently. There may be a deep-seated fear of running out of money, which keeps them working longer than they initially planned.Must ReadJeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being oneJPMorgan sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Get your free guide from Priority GoldThe tax breaks in Trump's 'big beautiful bill' expire after 2028. Here are 4 moves to make before the window closesHere's why you may want to consider retiring as soon as you hit the $2 million milestone — plus how to hang onto your hard-earned cash after the paychecks end.1. You're wasting your healthiest yearsAverage life expectancy in the U.S. is 76.4 years, according to the World Health Organization (WHO), so you might think sacrificing a few more years to work harder in your late 50s and early 60s is worth it (2).After all, you have plenty of time to enjoy the fruits of your labor, right? Well, the WHO also reports that health-adjusted life expectancy is lower — just 63.9 on average.That means if you retire at 60, you may have only a few years in full health before the onset of chronic conditions or functional limitations. Beyond that point, you may gradually lose energy, mobility or the desire to travel or enjoy time with family.This sacrifice might be justified if you were at risk of poverty in retirement. But with $2 million in your portfolio, it makes much less sense to keep working and trade away the healthiest part of your golden years.Plan for long-term care costsAccording to LongTermCare.gov, about 60% of Americans will need some kind of assistance as they age (3). And the annual cost of care can be steep, reports SeniorLiving.org (4):$75,756 for an assisted living facility$80,300 for a home health aide$118,104 for a shared nursing home room$135,528 for a private nursing home roomWhile it's understandable to be concerned about the cost of care as you get older, that doesn't necessarily mean you need to keep working to offset those expenses. Instead, consider protecting your wealth by planning ahead.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info