Laid off at 60: Can Tom Afford to Retire Now? (Actual Case Study)

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Tom, a 60-year-old software engineer, just heard rumors of upcoming layoffs. With $2 million saved for retirement, he’s wondering — should he update his résumé or can he finally retire with confidence?

In this real-life case study, we walk through Tom and Deb’s full retirement plan:

How much income can they safely withdraw
When to claim Social Security for maximum benefit
Strategies to lower taxes with Roth conversions
How to cover health insurance before Medicare
And what their retirement could look like over 30+ years

If you’re in your 50s or 60s and wondering if you have enough to retire, this breakdown will help you see what’s possible.


00:00 - Tom & Deb’s Dilemma: Can They Retire at 60?
01:00 - Why So Many Are Facing Layoffs Near Retirement
02:00 - Their Financial Picture: $2M Portfolio, $8–10K Monthly Goal
03:00 - Social Security Benefits & Claiming Strategies
05:30 - Income Planning: Can $2M Generate $12K Monthly?
07:00 - Smart Social Security Timing for Couples
09:00 - What If the Market Performs Poorly? (Stress Testing)
10:30 - How Roth Conversions Save $600K in Taxes
12:00 - Medicare IRMAA and Tax Bracket Optimization
13:30 - Covering Health Insurance Before Age 65
15:00 - Legacy Planning: Leaving Millions for Kids and Grandkids
16:00 - Final Thoughts: Why Their Retirement Plan Works

Retirement Advice, headquartered in Mapleton, Utah, is a fee-only financial planning firm that equips individuals with the knowledge, tools, and wisdom needed to retire on their terms confidently. Their holistic approach is rooted in transparency, open collaboration, and a client-first mindset. They can be reached by phone at (801) 228-0103, via email at [email protected], or on the web at earlyretirementadvice.com.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

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