Reply to Why do people with millions of dollars still work?

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[quote=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.[/quote]

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