I'm sort of past that in a major way, not in high $ sense, our personal stash is probably <$2m, but in overall living style. I am 63, married, two adult kids. I started with $5 my father gave me to call home to tell him I made it to Navy boot camp alive - 1971. Saved well and often, started IRAs as soon as legal, always maxed 401K, wife did the same, kids started IRAs with first jobs, etc. Vanguard says I started with them in 1994, I was with Janus before that. The actual 7 figure mark was first passed nearly two decades ago. With that also came days when the number dropped the odd +$50K, so it's not all bliss, even when the losses are relative to higher total. We experienced being are/aren't millionaires perhaps thousands of times. We have always stayed fully invested, and just ride it out. Some days tho, the numbers do suck.
The reality is at 4% safe withdrawal, it's not a huge income stream. We live in a modest home (1,300 sq ft) in a safe and interesting non-HOA neighborhood (meaning some of my neighbors are crazy, but mostly not violent), finally bought an actual new car (CRV) for the first time in 2013. One kid is a Resident in Emergency Medicine, one is a very successful government attorney. Both went to state U's and got tuition, books, fees, and a modest stipend, so had no student debt at graduation. Grad school, we paid half, tho that has been creeping up. We went in with the lawyer on her house, now own a nice furnished room in the basement in a major ski town (and even at $250k, a basement room w/shower was still a bargain). We will help the EM doc when he gets past the idea of paying for his med school on his own. We assist, but don't subsidize or interfere. I've learned I have fantastic kids, so even $xxxK grants don't worry me.
Being there financially meant me retiring at 56 from a civil service technology management job, the wife (Engineer) at 60. We both have okay-not huge defined benefit pensions, in addition to our Vanguard stash. We have a rough budget, but we have lived modestly for so long, I don't monitor it any more; we're still saving at a modest rate, but that increasingly gets eaten on food, wine, art, travel, Sage Fly rods, and a dark hole known as a sail boat. There are distant rumblings about a new couch, and refinishing the basement - for some people even a new car isn't enough.
Now, I find the major question is what to do with the roughly 20 good years I think I have left. I am addicted to Great Courses/Teaching Company classes, but managed to get the local library to buy them, so about once a week I hoof it to return and get a new one. Sometimes I borrow the neighbor's dog for the trip, and for free we both have a very pleasant time. I just returned from a week long road trip for a sailing class, but slept in the shell on my pickup going/coming/staying. Trip grand total was less than $300 including gas, so I guess I am simply tight-fisted by default. I took the boat out yesterday, the wind was steady, the temp was pleasant, magic happened. We did finally break down and buy an annual pass to the community recreation center (at my senior discount), and try to swim 30 minutes every other day - the recommended exercise for seniors thing. If you didn't already know, during the week your local community centers is packed with +60s. Some day someone will organize a global coordinated Tai Chi event, and >two BILLION people will participate. The 'seniors' designation thing is sort of disconcerting, but discounts help get over it.
Rest assured I am not experiencing remorse or confusion from not working. I hear people my age say they continue to work because they don't know what they would do otherwise. I don't have that problem, it's more a struggle with limiting my choices. I mean, what an incredible time in history to be alive. Being at least modestly financially independent - how did it change me? I'm FREE, and that is a very different way of life.