Why do people with millions of dollars still work?

[Anonymous]

Anonymous wrote:Inflation. Anything under $10M is not necessarily comfortable.

Agree 💯

[Anonymous]

our number is 10 million. we have 4 to go, lol

[Anonymous]

Anonymous wrote:our number is 10 million. we have 4 to go, lol

that was us too. but then we hit 10M, and DH was on an interesting case and didn't want to quit....and so it goes

[Anonymous]

We take a lot of baller vacations that cost a lot and I'm not willing to give that up anytime soon, lol

[Anonymous]

It is fun to work when you can afford to retire. You can take risks and tell people what you think without fear of the consequences of losing your job.

[Anonymous]

Anonymous wrote:It is fun to work when you can afford to retire. You can take risks and tell people what you think without fear of the consequences of losing your job.

+1 thats me....retired at 57 now working as a consultant. I wear an undershirt with a middle finger imprint

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ego

I don’t get it either. One of my main motivations for becoming wealthy was to not have to work.

Some actually enjoy their jobs

Some executives/leaders feel a need to stay with their team to see thru the next phase of a company, so they would feel guilty retiring/departing before completing their full commitment. Because there are leaders that actually care about their employees

Yea right

DP here. You don't know many truly top and rare experts in their field. People who are just getting by at their job lower level would rather retire young and sit around and do nothing, they are skating along in life, but daydream about being rich.

If you are truly a top and rare expert - life is different - you enjoy what you do, and you are sought out for what you do, and you want to continue helping your client (or whatever you call them). Such rare individuals need to use their brain, and need to contribute (usually to a greater good), that is what keeps them going. It is extremely hard to articulate that to a couch potato.

[Anonymous]

Y’all remind me of women who wait until they’re pushing 40 or beyond before deciding to have kids. In both instances - whether you’re driven by the need for more and more money or the need to attain more professional success - you operate under the sorry delusion that life lasts longer than it actually does.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ego

I don’t get it either. One of my main motivations for becoming wealthy was to not have to work.

Some actually enjoy their jobs

Some executives/leaders feel a need to stay with their team to see thru the next phase of a company, so they would feel guilty retiring/departing before completing their full commitment. Because there are leaders that actually care about their employees

Yea right

DP here. You don't know many truly top and rare experts in their field. People who are just getting by at their job lower level would rather retire young and sit around and do nothing, they are skating along in life, but daydream about being rich.

If you are truly a top and rare expert - life is different - you enjoy what you do, and you are sought out for what you do, and you want to continue helping your client (or whatever you call them). Such rare individuals need to use their brain, and need to contribute (usually to a greater good), that is what keeps them going. It is extremely hard to articulate that to a couch potato.

+1000

I'm the PP, and my partner is an exec and doing just that. Staying in job because they "committed to doing so for another X years to the rest of the exec team" Some execs actually do care about the people who work for them and are not just selfish as$$$les who think only of themselves. Financially they certainly don't need to work, but really enjoy the work they do and do not want to let down the team. I tell my partner to cut back but right now they are not ready and that's okay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:White males with professional jobs have the shortest life expectancy after retirement.

My two uncles who both retired at 75 one is alive at 91 the other died at 86.

My other 9 uncles. (My parents had big families all retired between 50-60 all dropped dead by 70.

Seems white men live 5-10 years after retirement regardless of age retired.

Also my job I have a big office, it is 9-5, one day a week WFH, I don’t make DCUM money but I get paid 250k a year and have medical, dental vision. I have no hobbies as I don’t like hobbies. Work is my hobby I guess.

I will do it till 67-70

...and then drop dead at 72. finishing the sentence for ya.

My wife retired back in December 2020, We traveld in our RV in 2021 and part of 2022, We wanted to take breaks in between when traveling, in October-November 7th we worked in the early voting center in Fairfax County, November 11th, she fainted and she spend 4 months in and out of hospital her kindeys were failing, in February 5th. 2023 she passed away.

Sorry for your loss, PP. Keep going, she'd want you to make the most of your time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:White males with professional jobs have the shortest life expectancy after retirement.

My two uncles who both retired at 75 one is alive at 91 the other died at 86.

My other 9 uncles. (My parents had big families all retired between 50-60 all dropped dead by 70.

Seems white men live 5-10 years after retirement regardless of age retired.

Also my job I have a big office, it is 9-5, one day a week WFH, I don’t make DCUM money but I get paid 250k a year and have medical, dental vision. I have no hobbies as I don’t like hobbies. Work is my hobby I guess.

I will do it till 67-70

...and then drop dead at 72. finishing the sentence for ya.

If I retired at 70 and dropped dead at 72, so what I like work.

My 401k is pretty large I am on year 38 of contributing. Plan on working 7 more years.

[Anonymous]

Anonymous wrote:Y’all remind me of women who wait until they’re pushing 40 or beyond before deciding to have kids. In both instances - whether you’re driven by the need for more and more money or the need to attain more professional success - you operate under the sorry delusion that life lasts longer than it actually does.

My grandmother had her last at 40 and when she died at 90 she left behind a 50 year old orphan.

[Anonymous]

Anonymous wrote:We take a lot of baller vacations that cost a lot and I'm not willing to give that up anytime soon, lol

Same. We have a little under $40m.

Maybe work a few more years….would be happy at $75-100.

[Anonymous]

I'm in my mid-40s with about $3 mil. I plan to work at least 25 more years. Only in the last 5 years or so has our HHI approached 7 figures and I gotta say - I like this level of income, a lot. I'm able to save well, but also just do these amazing things I could never do before. Big trips with our family and not stressing out while on those trips about what things cost. I like being able to buy whatever clothes I want to buy without factoring in cost that much. I love living in a beautiful home and being able to furnish it nicely and improve it when it needs improving. I love being able to treat others - take my kids and their friends to a major league game, take my mother on a long weekend together and cover all expenses. Someone commented earlier that no one needs more than $140k or something like that and I agree, I don't NEED more than that to survive, but now that I've experienced this higher level of income, my goal is to not take a step back. In order to do that, I've got to keep working. We'll hit $1 mil HHI for the first time this year and we save, all in, about 20% of that each year. It's a lot of savings, but we're going to need well into 8 figures to generate an income comparable to what we earn now in retirement. So that's my answer to your question. I work because I earn a lot and I love the lifestyle those earnings afford me. I'm going to need many millions saved to continue this lifestyle through retirement. Also - I enjoy my career. Would I still get up and go to it if I hit the lotto for $100 mil? Probably not. But I like going to work, I'm proud of my career, I feel appreciated, I'm not overly stressed out, I have time for family and other things I enjoy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is fun to work when you can afford to retire. You can take risks and tell people what you think without fear of the consequences of losing your job.

+1 thats me....retired at 57 now working as a consultant. I wear an undershirt with a middle finger imprint

consultant without deadlines and meetings? I had been doing consulting for decades and cannot find that magical consulting gig where i am not accountable to anyone for the results and have no pressure.