People with $5M+ NW, why do you still choose to work?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Because we want $10m to retire.

Why? Give us an outline of your retirement plans and why you need that much to achieve them, then explain why those plans are so important and desirable that they're worth giving up more of your prime years working to achieve them. I'm genuinely curious. After all, time is limited--for all of us.

Np. Working is not “giving up” one’s prime years just because I have $5M invested. It’s a choice about how we want to spend our time, and some of our years. There’s a sense of fulfillment from that, and it’s no less valuable than puttering around in a vegetable garden.

Oh, please. I retired with less than that and we have a gardener. Your "sense of fulfillment" is more likely from deriving your self-worth and identity from your job title and paycheck. And let's face it, most high paying jobs don't contribute jack shit to society. It's not like you're a fire fighter or something.

[Anonymous]

We have enough to retire for ourselves. But it took my husband a long time to get his salary this high, and the way he views it, he can make the money a lot faster than our kids can in their early working years, so if he just works a bit longer, that can be their grad school, their downpayments, college funds for their own kids, and hopefully they will start off on better footing than we did. Since he’s the one doing the hard work (I work an easy PT job) I figure it’s his choice. He will still retire early, just not as early.

[Anonymous]

Because it’s not newly enough and kids aren’t even in HS yet. They are very expensive.

[Anonymous]

Anonymous wrote:I love love love my job. And we have 2 kids in college.

I love hearing this - what type of work do you do? And why have I never found it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Because we want $10m to retire.

Why? Give us an outline of your retirement plans and why you need that much to achieve them, then explain why those plans are so important and desirable that they're worth giving up more of your prime years working to achieve them. I'm genuinely curious. After all, time is limited--for all of us.

Np. Working is not “giving up” one’s prime years just because I have $5M invested. It’s a choice about how we want to spend our time, and some of our years. There’s a sense of fulfillment from that, and it’s no less valuable than puttering around in a vegetable garden.

Oh, please. I retired with less than that and we have a gardener. Your "sense of fulfillment" is more likely from deriving your self-worth and identity from your job title and paycheck. And let's face it, most high paying jobs don't contribute jack shit to society. It's not like you're a fire fighter or something.

You seem angry and troubled. A lot of people take pride in their jobs, and their jobs do contribute to society, or at least to the society that most of us would like to inhabit.

[Anonymous]

For the people in their 40s or younger with HHI at $5 mil or above, what do y'all do for work?! Were you given a financial launch from your families?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Because we want $10m to retire.

Why? Give us an outline of your retirement plans and why you need that much to achieve them, then explain why those plans are so important and desirable that they're worth giving up more of your prime years working to achieve them. I'm genuinely curious. After all, time is limited--for all of us.

Np. Working is not “giving up” one’s prime years just because I have $5M invested. It’s a choice about how we want to spend our time, and some of our years. There’s a sense of fulfillment from that, and it’s no less valuable than puttering around in a vegetable garden.

Oh, please. I retired with less than that and we have a gardener. Your "sense of fulfillment" is more likely from deriving your self-worth and identity from your job title and paycheck. And let's face it, most high paying jobs don't contribute jack shit to society. It's not like you're a fire fighter or something.

You seem angry and troubled. A lot of people take pride in their jobs, and their jobs do contribute to society, or at least to the society that most of us would like to inhabit.

Neither angry nor troubled. Just calling it like it is. Especially in the DMV where the first question asked is too often “what do you do?”

Many of you define yourselves and others around you by your job titles and income. Fact.

[Anonymous]

I enjoy my hobbies way more than working. There are a lot of productive and intellectually engaging activities that aren’t sitting in a 9-5 office job + shitty commute. I bet most of the people who “enjoy working” are wealthy and privileged enough that they either WFH/hybrid/live very close and don’t need to spend 2-3 hours a day commuting.

I don’t understand how someone can enjoy a soul crushing commute that makes you too tired to work out and cook a meal 5 days a week, getting up at the crack of dawn and being forced to go to sleep at 9pm to avoid sleep deprivation, have to poop in a public restroom, sit in back to back meetings for 5 hours a day discussing things you don’t give a shit about, needing to wear uncomfortable clothes all day, can never let loose and be yourself while at the office, etc, etc. Not to mention you’re locked in to a select few geographical areas where your industry is located, have no freedom of movement or freedom over your time.

For most of us working is an incredibly dehumanizing experience and the whole thing is a miserable slog. I seriously don’t understand how the average office drone who makes low 6 figures would actually choose this life if money weren’t a problem.

[Anonymous]

I come from humble beginnings and still know a lot of people in those circumstances. I want to accumulate as many resources as possible to help similarly-situated people get a leg up in life. Doing this is not without its challenges or difficulties, but it's still something I believe is worth the headache and occasional disappointment.

[Anonymous]

My husband retired at age 58 when he vested in his federal 30-year pension. I have grown kids and no grandchildren anywhere on the horizon (none of my children is married or attached long term). I like what I do, and have unlimited PTO to vacation, volunteer or take it easy. Why would I give up a pretty easy six figure job that I enjoy, when I can also be a lady who lunches, volunteer for my church, play pickleball, take multiple international trips a year?

[Anonymous]

Anonymous wrote:I enjoy my hobbies way more than working. There are a lot of productive and intellectually engaging activities that aren’t sitting in a 9-5 office job + shitty commute. I bet most of the people who “enjoy working” are wealthy and privileged enough that they either WFH/hybrid/live very close and don’t need to spend 2-3 hours a day commuting.

I don’t understand how someone can enjoy a soul crushing commute that makes you too tired to work out and cook a meal 5 days a week, getting up at the crack of dawn and being forced to go to sleep at 9pm to avoid sleep deprivation, have to poop in a public restroom, sit in back to back meetings for 5 hours a day discussing things you don’t give a shit about, needing to wear uncomfortable clothes all day, can never let loose and be yourself while at the office, etc, etc. Not to mention you’re locked in to a select few geographical areas where your industry is located, have no freedom of movement or freedom over your time.

For most of us working is an incredibly dehumanizing experience and the whole thing is a miserable slog. I seriously don’t understand how the average office drone who makes low 6 figures would actually choose this life if money weren’t a problem.

My commute is 20 minutes, when I'm not working from home. My husband cooks dinner every night, and I work out first thing in the morning before work. I go to bed around 11 and get up around 7. I'm sorry your job setup is a miserable slog.

[Anonymous]

Anonymous wrote:The fun things to do if you’re young and stop working altogether cost a lot.

People are more likely to switch jobs or start a business, if that’s something they want to do.

Truthfully a lot of the slack gets taken up by caregiving. Children and elderly parents.

My kids are grown (mid twenties, out of college/grad school, employed) and my parents are deceased. Yet more reasons to keep working because I don't have caregiving responsibilities.

[Anonymous]

Anonymous wrote:We have $6.5M not including the house, and work for health care benefits. Paying out of pocket for 10-15 years for the two of us plus kids before reaching Medicare eligibility seems like such a waste of funds. Since one works for health care benefits, it is only fair that the other works, too.

My husband retired almost 5 years ago, and I'm still working. He's happy being done and I'm happy working. Choice is a wonderful thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Because we want $10m to retire.

Why? Give us an outline of your retirement plans and why you need that much to achieve them, then explain why those plans are so important and desirable that they're worth giving up more of your prime years working to achieve them. I'm genuinely curious. After all, time is limited--for all of us.

I am not "giving up my prime years" to work. I enjoy working, even knowing my time is limited.

[Anonymous]

Anonymous wrote:I'm a PP, not the OP. But if I were the OP, I'd ask something along the lines of "if you have $5 million plus and you're over 50, why aren't you retiring?"

Posters in their 30s or 40s--especially those raking in the money and all the prestige and accolades and "things" that come along with it--just don't have the time or mindset to contemplate the reality that, like all of us, their days are numbered. But one day they will. Then the question will become relevant to them. But right now, and quite understandably, it isn't.

My days are numbered (I am 60) but I still choose to work. I have no strong desire to sit around and live at a slow pace on a budget. Make a different choice, go for it. Doesn't bother me at all.