If you have/make enough money to retire right now, why don’t you? I see some 🐠 saying they make $500k+ and wonder why they would stay in corporate if they don’t have to. Is it the money? Do you like it here? Would you rather being doing something else?

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A lot of people have expanded their lifestyles as their paycheck increases, so even if they make $500k a year it’s not enough to retire on

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Couple of reasons come to mind. There’s a big leap from people who make that much to people who have that much. Increased income leads to increased spend leads to high end lifestyle leads to need to work forever to continue the lifestyle. Also many people who are able to get a job that pays that much are often driven to “do more”. If they could retire they’d be bored. One of the partners I work for is age-retiring at the end of this year and he’s already looking for his next gig. Just wired that way.

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People who achieve that aren't the types to sit on their ass in retirement. That's like asking why Ronaldo, LeBron or Brady still play their sports. I imagine the job is much more enjoyable at those levels too.

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😂 fair enough D1, let's say JJ Redick, Pepe Reina and Josh McCown. Why are those guys still playing pro ball? They weren't awful, but have surely made their money by now

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My spouse doesn’t want me to project manage the family and I get satisfaction from work. None of my friends are retired yet so I’d have to get a hobby.

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It’s also that they’re supporting 4-5 people on 500k, not 1 person. 100k/person isn’t uber rich.

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😒

Not at 500k but close this year and in previous years.

1. Healthcare is a general consideration as it has high immediate and potential costs.
2. Add in a spouse, raising children, helping kids through college and then a looming challenge to support aging parents, and potential costs go way up
3. I don’t know what my number needs to be to walk away.

If I had $10M, sure, then I could walk away. $1M savings isn’t enough and $2M also probably isn’t enough. If I get to $3M then, I would have enough.

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Keeps me sharp and engaged with the world and other intelligent people.

I could do those things on my own, but I probably wouldn’t. Left to my own devices all I really do is read news and bake.

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Slightly tangentially related, my dad almost opened a bakery after he retired. He makes amazing bread and I grew up with him making all kinds of bread every weekend.

After he retired from his corporate job, he was working on a deal to buy an existing closed bakery, but the deal fell through and he took it as a sign to just enjoy peaceful retirement.

1 - a lot of people round up their salaries. Don’t believe what an anonymous person posts

2 - generally as people make more they spend more and trap themselves

3 - as you get higher up the ladder the work isn’t as bad in many cases it’s about cultivating relationships or solving problems with people you hired (generally you like the people you hire)

4 - 10 million is cooler than 1 million

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That last point made me think of this

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Early retirement isn't really a thing for me. I'm on track to have enough funds to be able to officially retire within the next 5-7 years (I'm almost 40), but I will focus on what are currently side hustles instead of kicking back and living the fully retired life.

My goal is to get to a point where I'm pulling in a steady $200-300k from part time side hustles and quit the day job then vs fully retiring. I really enjoy what I'm doing with my side hustles, they've grown from hobbies and I intend to keep doing them in perpetuity.

All that said, we've got a very low key lifestyle and $2-3M would likely be enough to keep us going even if we both fully retired cold turkey in our mid/late 40s.

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MD1 is goal.

I think some people continue to work because they find personal and professional growth from the experience with the caveat they are lucky enough to work in a place that gives them autonomy, creativity, and mastery in their domain.

If someone is grinding it our making widgets or the job doesn't meet the above criteria, they likely work because they NEED the money.

Honestly, I think most people who continue to work fall in the latter camp.

There’s an element of opportunity to it - worked for less pay to get here, let’s play it out, etc

There’s also the fact that at that age and level of success, you’re generally starting to think about what you’re going to leave the next generation. I had dreams of retiring early (and still can), but as I begin family planning with my SO I know a part of me will want to earn more and set my future kids up

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