Sanity Check - What if we go into recession later this year or in 2026?

NW $8M. Married 55m, VHCOL area, tech position making $750K p/y, wife makes $140K p/y and loves her job, no debt.
- Own home, valued at $2.7M
- 401k $2.4M / Brokerage $2.5M / HYSA $175K
- Annual spend $140K

I am thinking of retiring by the end of the year. My wife would continue to work to cover base bills and our insurance. Thoughts on if there is a major recession? I am concerned about the sequence of return risks as well.

Cant imagine how it must have felt for those who retired in 1999 or 2006 before the great recessions and had to possible return to work to not run out of money.