Anonymous
05/13/2026 20:47
Subject: Re:People with $5M+ NW, why do you still choose to work?
Anonymous wrote:Anonymous wrote: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.
What's wrong with working to derive self worth and identity from job title and paycheck?
Nothing. If you're insecure and superficial. Everything if you're not.
I work because I enjoy it, I derive some of my self worth and identity from it, my charities sure benefit financially and timewise from my financial and time donations (yes, even while working!). I'm high energy and competitive and have other sources of self worth work in addition to my job. Sorry you don't or didn't like your life's work.
Exactly.
Anonymous
05/13/2026 20:42
Subject: People with $5M+ NW, why do you still choose to work?
$5M is a lot but not that much.
We still have kids in HS, want to travel, have a mortgage. We like going out to eat once in a while and have expensive taste. I buy whatever I want.
We both also like what we do and enjoy the mental challenges and stimulation.
We still have kids in HS, want to travel, have a mortgage. We like going out to eat once in a while and have expensive taste. I buy whatever I want.
We both also like what we do and enjoy the mental challenges and stimulation.
Anonymous
05/13/2026 20:35
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote: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?
Engineer and fed. No financial launch, except college paid for by military (academy).
Anonymous
05/13/2026 19:44
Subject: People with $5M+ NW, why do you still choose to work?
How exactly does someone accumulate 5 million dollars especially do many years away from a normal retirement age of 55+?
Anonymous
05/13/2026 19:27
Subject: People with $5M+ NW, why do you still choose to work?
People are quietly doing this all around, but they often still have a job or a “job.” But really they spend most of their time on whatever their passion project is, which is also sometimes a business. Hang around amateur sports. There are a lot of people out there in their 40s who had enough to travel the country/world playing whatever sport and that’s what they do.
It just doesn’t look the same to be “retired” at 45 as it does at 70, even if you made a big career decision because of having reached $X.
It just doesn’t look the same to be “retired” at 45 as it does at 70, even if you made a big career decision because of having reached $X.
Anonymous
05/13/2026 19:20
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote:20 years of assisted living would cost about $5M according to Google. Per person so $10 if you need it for both.
3 kids going to private college is another 1.5, and if they want to be doctors or lawyers you can add onto that.
I also have anxiety about one of my kids getting a serious medical condition or injury where you need to pay $$$$ out of pocket to get appropriate care. If that happened and I didn’t have th money because I retired at 50, I’d feel awful.
I don’t believe it! So crazy. No way no how. They just try to keep you work until you die. It is not easy to save 5M per couple in general. Save much as you can. Deal with what you have and be at peace with it that you did your very best.
Anonymous
05/13/2026 18:46
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote:20 years of assisted living would cost about $5M according to Google. Per person so $10 if you need it for both.
3 kids going to private college is another 1.5, and if they want to be doctors or lawyers you can add onto that.
I also have anxiety about one of my kids getting a serious medical condition or injury where you need to pay $$$$ out of pocket to get appropriate care. If that happened and I didn’t have th money because I retired at 50, I’d feel awful.
What?! This sounds nuts
Anonymous
05/13/2026 18:32
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote:Anonymous wrote:20 years of assisted living would cost about $5M according to Google. Per person so $10 if you need it for both.
3 kids going to private college is another 1.5, and if they want to be doctors or lawyers you can add onto that.
I also have anxiety about one of my kids getting a serious medical condition or injury where you need to pay $$$$ out of pocket to get appropriate care. If that happened and I didn’t have th money because I retired at 50, I’d feel awful.
20 years of assisted living? For both partners?? Risk assessment not your strength I see.
Do: yes most are not 20 years. But the 6-24 months estimates are not accurate for most in my family. Had one relative in memory care for 6.5 years and another in nursing care for 2.5. Had covid not happened (both took turns for worse health after contracting it) it might have been 10+ years for one and 4-5 for the other
So plan accordingly
Anonymous
05/13/2026 18:27
Subject: People with $5M+ NW, why do you still choose to work?
NW is around 6M, that includes equity but we still have a mortgage. And it will likely be 5 years before the youngest is out of college. We have half the cost of private college saved but plan to cashflow the rest over the course of it and would like our mortgage paid off when we retire.
We both like what we do. And we are senior enough and live close in enough that there is no soul sucking commute and no mind numbing drudgery work. Definitely annoying office politics type situations sometimes.
We also really like our professional social circles and now that the kids are nearly grown I can spend a lot more time socializing after work than when my kids were younger.
And we want significant luxury travel when we retire and are doing that now as well.
It is nice knowing we could walk away from our work if we wanted to.
We both like what we do. And we are senior enough and live close in enough that there is no soul sucking commute and no mind numbing drudgery work. Definitely annoying office politics type situations sometimes.
We also really like our professional social circles and now that the kids are nearly grown I can spend a lot more time socializing after work than when my kids were younger.
And we want significant luxury travel when we retire and are doing that now as well.
It is nice knowing we could walk away from our work if we wanted to.
Anonymous
05/13/2026 18:23
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote:If you have earned 5Mil in your 40s you likely live the sort of life that requires more income for retirement. Golden handcuffs are a real thing. However if it took yoi until age 70 to earn 5 mil you'll be totally fine! More than fine because you haven't lived with large expenses.
So its more about the lifestyle than the actual number.
Well yes but at 70 you have 30 less years to use that $5m than in early 40s. Also most people slow down at some point. I don't envision myself traveling internationally for 35-40-% of the year when I'm 75+. I see our trips being more to visit kids/grandkids or to travel a few times per year. Whereas at 55 I can be on the go all the time, and doing tons of costly activuties on trips because we physically can. At 75+ I expect our costs to be much lower
Anonymous
05/13/2026 18:17
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote:People want luxury, that’s it. You can retire on $5M just fine even with kids, but folks who earn enough to make 5 mil at a young age are accustomed to a certain standard of living that would be hard to guarantee on a mere 150k/yr or whatever.
You can easily blow 20-30k on a single international trip if you travel in style with a family. You can do that if you have 5 mil with an 800k HHI but not with 5 mil and $0 HHI. [/quote
This exactly! We retired in mid 50s with $30m+.
Kids college is funded (and they were in college or thru already). We have a budget of $500k to do what we want yearly. Includes our two homes (fully paid off but maintenance, prop taxes, insurance etc), vehicle, sports tickets, concert tickets, travel and still helping the kid in college. Sure we could sell the houses and live on less but why? And yes we could travel less (was on road 170 days of the last year with over 120 days being international ) or less extravagantly but why? We can afford to do it and we don't want to live on $150k--in our hcola that would not be a nice way to live.
Anonymous
05/13/2026 18:12
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote:Anonymous wrote:This and the other thread are cracking me up. Can we agree on this: 1. If you have kids at home and you're not working you are not retired, you're a stay at home parent. 2. If you have kids at home and you are working, this question is not for you because, whether you're working or not if you have kids at home there's no such thing as "retirement" for you.
Somebody can start another thread asking "if you have more than $5 million and still have kids at home, why are you still working and not being a stay at home parent?" Then everyone can argue about that. But that is not this thread.
A SAHP to teenagers? Who are never home?
Well until they have their liscense you have to drive them everywhere. So they are only at school less than 7 hours a day. While they are in school you finally get a few moments to yourself, to shop in peace and quiet and keep the house clean so it's not a disaster zone (like when kids were little). And you get to be the parent who is involved at school for sports. Band, robotics, etc. you are still doing the bulk of the parenting, but yes you still have a few hours to get suit done without interruptions
Anonymous
05/13/2026 18:07
Subject: People with $5M+ NW, why do you still choose to work?
I find it odd that people feel so defensive about their personal life choices.
Anonymous
05/13/2026 17:51
Subject: People with $5M+ NW, why do you still choose to work?
Anonymous wrote:20 years of assisted living would cost about $5M according to Google. Per person so $10 if you need it for both.
3 kids going to private college is another 1.5, and if they want to be doctors or lawyers you can add onto that.
I also have anxiety about one of my kids getting a serious medical condition or injury where you need to pay $$$$ out of pocket to get appropriate care. If that happened and I didn’t have th money because I retired at 50, I’d feel awful.
20 years of assisted living? For both partners?? Risk assessment not your strength I see.
Anonymous
05/13/2026 17:03
Subject: People with $5M+ NW, why do you still choose to work?
20 years of assisted living would cost about $5M according to Google. Per person so $10 if you need it for both.
3 kids going to private college is another 1.5, and if they want to be doctors or lawyers you can add onto that.
I also have anxiety about one of my kids getting a serious medical condition or injury where you need to pay $$$$ out of pocket to get appropriate care. If that happened and I didn’t have th money because I retired at 50, I’d feel awful.
3 kids going to private college is another 1.5, and if they want to be doctors or lawyers you can add onto that.
I also have anxiety about one of my kids getting a serious medical condition or injury where you need to pay $$$$ out of pocket to get appropriate care. If that happened and I didn’t have th money because I retired at 50, I’d feel awful.