Anonymous
Post 07/07/2025 12:35     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:
Anonymous wrote:Simple: Because for some people work isn’t work..
When you’re 30 and at the beginning of your career it’s stressful and time consuming and you’re probably counting down the days you no longer have to work. if you have the luck to grow so much in your career, by the time you could retire you may not really want or need to.

I’m now in a position where I make a LOT to pretty much do nothing but use my brain At my level I get lots of job satisfaction by mentoring and giving back the next generation. People in my field/conpany respect and look up to me, reach out to network, and want my advice. I speak at conferences. I have the ability to refer someone for a job or give someone a leg up. I get lots of perks from my job which enhance my personal life (eating out at the nicest restaurants, Uber black, first class flights, free computer and phone, subscriptions, etc). I have a admin assistant and career coach. Work life balance is great! My status gives me lots of once-in-a-lifetime bucket list experiences. Earlier this year I shared a stage and had private lunch with an A-list celebrity who works with my company and I have box seats at the US Open in 2 months.

I see this perspective from others I know who may not even have such extreme circumstances. Usually the type of person who has the drive to earn and save multi-millions has the intrinsic need to continue achieving. Think of top athletes, politicians, and business moguls. The way I see it - I’ve worked really hard for a lot less and had to juggle life on top of it. With all the sacrifices and effort I put in over the last 25 years to get here, why would I stop “working” now. Retiring at this point would be boring and feel more like giving up and leaving a lot on the table. I grew up with a kit less, so I do think the generational wealth I’m creating is a key driver for me, but aside from more money I’m a lot healthier mentally and physically and emotionally as well. I may step back in 10 years for some unforeseen reason, but until then I’m going to keep logging in.


You are the ultimate parasite. Don’t be too generous with pats on your own back. Seen others like you “hanging around” chewing up resources but you this you are benefiting others. It’s ok to leave food on the tables for others. Just because you can…. Why don’t you let go and give others an opportunity? Pure selfishness


That’s funny. You can see in other threads that people are called parasites for letting go and living off their investments. They are now non-contributors.

How about letting people make their own decisions about their self-funded lives?
Anonymous
Post 07/07/2025 12:31     Subject: Why wouldn't you retire on $5M?
My kids are in school and play sports, so it's not like I could use the free time to travel. Also, I like to pay for a regular housekeeper and part-time chef (who makes meals for us weekly), and I'm not sure I could justify those if I retired. Knowing I have enough to retire is nice because I say no more often when things come up at work that I don't want to do. And I know I won't lose my job because I'm still profitable, but if I do, so what.
Anonymous
Post 07/07/2025 11:43     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:I mean, I would but some people work not because they have to but because they want to.


Also some people especially nowadays are being forced out of their jobs not because they want to but because of layoffs, outsourcing, AI, ageism, etc.

So we might be forced into an early retirement on less than we’d like if our jobs disappear. I’m trying to save as much as possible right now assuming I may be unemployable in 5-10 years
Anonymous
Post 07/07/2025 10:54     Subject: Why wouldn't you retire on $5M?
I mean, I would but some people work not because they have to but because they want to.
Anonymous
Post 07/07/2025 10:51     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:My monthly credit card bills are more than $10k. My RE taxes on 2 houses are over $20k/year. Sure I could scale that back but I don't want to or need to. I like working and I like not having to worry about budgeting or splurging on occasion. And yes, we do save a ton.


This. We spend a $hit ton every month. More than $10K. We also save a ton. DH briefly retired a year ago (54) but was bored out of his mind.
Anonymous
Post 07/07/2025 10:48     Subject: Why wouldn't you retire on $5M?
My monthly credit card bills are more than $10k. My RE taxes on 2 houses are over $20k/year. Sure I could scale that back but I don't want to or need to. I like working and I like not having to worry about budgeting or splurging on occasion. And yes, we do save a ton.
Anonymous
Post 07/07/2025 10:41     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:Most people who amass $5 million are probably used to a fairly extravagant lifestyle! For them, it would be a step down to live on $10,000 per month.


Simpleton. Lots of “millionaire next door” types around. We know many.

DH makes $800k-$1M and we live on about 14k a month, of which 4k is our mortgage. Once that is gone and our kids are finished college, $10k will be easy.
Anonymous
Post 07/07/2025 10:36     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:Most people who amass $5 million are probably used to a fairly extravagant lifestyle! For them, it would be a step down to live on $10,000 per month.


This 1000%

It all depends upon "how much money you need/want to live monthly". I'm not retiring early to scrimp and figure out how to live on way less than I do while working.
You decide how you want to live in retirement, then plan and make sure you have enough.
If that includes cutting back, go for it. But for many of us, it does not
Anonymous
Post 07/07/2025 10:21     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Most people who amass $5 million are probably used to a fairly extravagant lifestyle! For them, it would be a step down to live on $10,000 per month.


Or the opposite, the spent a lifetime savings and living below their means.


This!

And 100% of my estate will go to benefit my family.


And this!
Anonymous
Post 07/07/2025 10:17     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:
Anonymous wrote:Most people who amass $5 million are probably used to a fairly extravagant lifestyle! For them, it would be a step down to live on $10,000 per month.


Or the opposite, the spent a lifetime savings and living below their means.


This!

And 100% of my estate will go to benefit my family.
Anonymous
Post 07/07/2025 10:13     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:Most people who amass $5 million are probably used to a fairly extravagant lifestyle! For them, it would be a step down to live on $10,000 per month.


Or the opposite, the spent a lifetime savings and living below their means.
Anonymous
Post 07/07/2025 09:50     Subject: Why wouldn't you retire on $5M?
Most people who amass $5 million are probably used to a fairly extravagant lifestyle! For them, it would be a step down to live on $10,000 per month.
Anonymous
Post 07/07/2025 09:47     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:
Anonymous wrote:I did, but I became a SAHM so I don’t look “retired.” I still work some and will work more when kids are older, but it’s because I want to and it’s all projects/jobs that are fun for me. I also have a several major hobbies/pursuits that are unpaid.


You’re not retired if you’re a stay at home mom AND still “work some.” Who are you trying to kid??


Yeah but I think this is a consistent brain block for people on dcum, that you’re either a full time w2 or “retired” and you just piddle around. A lot of people who find themselves with $5m are going to change their lives but it’s unlikely to look like a binary between “working” and “retired.” There are different ways to have a full life.
Anonymous
Post 07/07/2025 09:33     Subject: Why wouldn't you retire on $5M?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Very simple reason. My spend is way higher than $10,000 a month. In retirement looking to match current spend. Around $30,000 to $35,000 a month. Need to hit $12 million or perhaps $15 million.


This. $10k a month is really not much. We have $9M in cash/investments and no where near retirement (young 50s). Sure we could retire but I’m not living frugally in retirement



For a normal person it’s a lot of money especially for not having to work. Assuming no mortgage or other debt, that’s a ton of money for me and most other people. We live in a TH and send our kids to public school though.


Sure. But I don’t.
Anonymous
Post 07/07/2025 07:06     Subject: Why wouldn't you retire on $5M?
Cause you have to be stuck with spouse 24/7.