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What would you do?
Old 01-20-2013, 07:51 AM   #1
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What would you do?

Hi all, I have just recently discovered this forum, and it is quite interesting and exciting. I am learning a lot by reading a number of the most recent and past threads. I feel that part of learning is to put yourself in different positions and determine "what would you do?" if you were in this position.

Edit: Hypothetical man decided to take a vacation.
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Old 01-20-2013, 07:56 AM   #2
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Hypothetically, i'd begin training me as your replacement (succession planning is important!). I'd subsequently spend a year training my replacement, and create a sustainable replacement cycle 8-)
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Old 01-20-2013, 08:19 AM   #3
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Your hypothetical early retiree wannabe needs to hire some hypothetical help to sove his hypothetical dilemma.
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Old 01-20-2013, 08:32 AM   #4
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Personally, I'd cut my expenses and get out of there asap. IMHO time is our most precious resource. Years spent working don't come back. Death is approaching, fast.

But at this point in time, luxury seems to appeal more to you than ER, so I suppose you want to continue working for a bit.
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Old 01-20-2013, 08:33 AM   #5
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Humor me.... where do I put in an application? -

If you are happy, not stressed, enough free time, enjoying life, etc. why change? Continue until your feelings and or priorities change.

FI = increased options for you and your family, it should not force a change in a job if you are happy. YMMV
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Old 01-20-2013, 08:38 AM   #6
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Thank you for the input so far.

As a disclaimer:
The above is a work of fiction. Any resemblance to actual persons, living or dead, is purely coincidental.
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Old 01-20-2013, 08:39 AM   #7
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Quote:
Originally Posted by Eyesman View Post
As a disclaimer:
The above is a work of fiction. Any resemblance to actual persons, living or dead, is purely coincidental.
IOW, you want to get advice about a fairy tale?
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Old 01-20-2013, 08:46 AM   #8
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IOW, you want to get advice about a fairy tale?
Why, then the OP can invest in magic beans and a golden goose. And live happily ever after in a gingerbread house!

Percentages work better for me than hypothetical bazillions.
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Old 01-20-2013, 08:48 AM   #9
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Welcome to the board Eyesman.

I can't answer your hypothetical question because you have only described the mechanical details of acquiring money and spending it. I'll assume that this hypothetical family has all the necessary risk planning in place (insurance, will, emergency fund, and an investment policy).

What about the rest of your life? You have the basic needs covered. This is the "and now what?" question.

What does this hypothetical family do besides go to dinner and take trips? Hobbies? Interests? What is important to the breadwinners? If they stopped working now, what would they do with the rest of their life?
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Old 01-20-2013, 09:00 AM   #10
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If I loved my job, I would keep working. If not, retire and find something I AM passionate about.
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Old 01-20-2013, 09:24 AM   #11
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You have to decide when enough is enough.

I think most on this board probably fired with well less than the hypothetical amounts you listed.
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Old 01-20-2013, 09:51 AM   #12
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You have to decide when enough is enough.

I think most on this board probably fired with well less than the hypothetical amounts you listed.
+1

Flip a coin, maybe?
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Old 01-20-2013, 09:59 AM   #13
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Cut a zero off the salary and reduse the net worth by a bunch and you have my situation. I have a job I can coast in and aside from the business travel (which I loathe with a passion) my job is fairly easy most of the time. It still gets under my skin and I want my time back. There is so much more to do in life aside from working.
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Old 01-20-2013, 10:13 AM   #14
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If I loved my job, I would keep working. If not, retire and find something I AM passionate about.
+1
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Old 01-20-2013, 10:38 AM   #15
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+1
+2

What has always been a mystery to me is why very wealthy people continue to work when they can easily afford not to (I'm thinking of Warren Buffett, Hank Greenberg and the like). I suspect that they continue to work because they enjoy it - good for them. While I enjoyed my work I didn't enjoy it enough to keep doing it once I could afford not to work.

I have a wealthy uncle who could easily afford to retire but still plugs away, but he has his own business and can create his own schedule. Not for me but some people are just wired differently.

The beauty of the OP's hypothetical situation is that one can pretty much do as one chooses.
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Old 01-20-2013, 11:13 AM   #16
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I would work another year or two while saving a greater percentage of my income and, at the same time, plan for my life after work.
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Old 01-20-2013, 11:16 AM   #17
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IOW, you want to get advice about a fairy tale?
Hypothetically.
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Old 01-20-2013, 11:47 AM   #18
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If I were in this fairy tale, I would continue to work.

Look, with 8 weeks of vacation a year, and so much money for luxurious travel and dining out, I would get bored with so much leisure. And then, since work is so much fun and relaxing, I would go to the office just to BS with colleagues, meet with customers over a power lunch or whatever, just to get a change from endless and pointless vacations. Occasionally, I would exert my muscles and fire some guys who are just loafing and not performing to my expectations. That will teach them.

Damn! I start to sound so much like Trump. Or at least I think that's what Trump would do.
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Old 01-20-2013, 12:55 PM   #19
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Sounds like a good place to be. I know someone who makes a little under $800 k a year , lives in a 120K house and is sitting on about 4M. No kids , no fancy rides. Works like a dog, but gets paid well. Without getting real good control of the spending you fake playmate may go broke. Tell them to keep working!
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Old 01-20-2013, 01:32 PM   #20
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Unfortunately, your hypothetical man has a big ego and runs for Congress. It's not the money...it's POWER.

If Mr. Hypothetical does not have a big ego he gives charitible endowments via paidup single annuity life insurance policies, trims his lifestyle, and makes sure his kids are sheilded from the spoils of too much money.

Purpose. It's all about deciding purpose.
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