Here's a worst case scenario. The day you retire at 54 with $1,000,000, the stock market crashes by 50% and takes 15 years to recover.
If the stock market crashes and take 15 years to recover, there will be a lot more people in trouble than me.
The majority will not survive for more than 2 years. I would not worry about my investment. There will be a worse problem than having enough money to survive. I kept some gold jewelry for that kind of situation.
https://en.wikipedia.org/wiki/1997_Asia ... ial_crisis
I had lived through those kinds of situation before during 97 Asian financial crisis. It was only 2 to 3 years. And, the average saving rate of those countries is much higher than the USA.
That's quite true, but it wouldn't change your level of pain. That happened in Japan and could happen here, though I personally doubt very much that it will.
Frankly, I think that you may be borrowing trouble from tomorrow that may not materialize. If you do lose your job, the economy seems good enough that you shouldn't have any trouble, even at your age, of getting a job making at least half as much as you do now, even if the work is totally different. The beauty of HCOL areas is that even low wages, in this instance, would be enough to give you a enough safety to make $1M work out very nicely.
Regarding medical expenses, if you see that those are getting out of hand, then just become a medical tourist or leave the country, as you've already said you would be willing to do.
As another option, if this did materialize, I would recommend that you consider either paying off your mortgage entirely with your bond money or at least continue to make the mortgage payments with the bond money, leaving your stocks alone. Yes, this would result in an increase in your stock allocation, but you mortgage rate is probably the same or higher than current bond yields anyway.
And even if you were 'forced' to use a 6% WR, the likelihood of the portfolio failing in 16 years is very low. If you could wait until age 70 to start SS, it sounds like you would be in great shape, even if your portfolio is a fraction of what it is now.
You'll be fine.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings