If you've got $5 million at 60, you've probably qualified for medicare and a significant social security payment.
With $5 million, it shouldn't be hard to cover your medical expenses for 5 years, and in 2-10 years you'll get regular payments from Social Security.
I'm sure there's some people who would struggle with $5M at 60, but they'd need to have some pretty specific circumstances. It should be clearly enough for most. IMHO, $5M is likely enough for most at any age, but maybe not in an area with high housing costs.
When the math is clear, there's no uncertainty and fear.
I have more than enough, and I don't worry about running out.
If I had $5M at 60, I would feel the same way. It's clearly more than enough. If I then went on to have $1M at 70, I would worry. The earlier case of $1.3M at 49 seems reasonable to worry about.
If $5M at 60 isn't enough, there's probably no reasonable number that is enough, and there's no sense worrying about it, because there's no action to be taken.
If you haven't figured out how to not worry about things you can't take action about, maybe you've misspent your 60 years. But, there's not much action to take about that either.
With $5 million, it shouldn't be hard to cover your medical expenses for 5 years, and in 2-10 years you'll get regular payments from Social Security.
I'm sure there's some people who would struggle with $5M at 60, but they'd need to have some pretty specific circumstances. It should be clearly enough for most. IMHO, $5M is likely enough for most at any age, but maybe not in an area with high housing costs.