They just keep on working

[Mr._Graybeard]

Quote:

Originally Posted by Cobra9777 My best friend from Megacorp is still working. He's a VP and makes a ton of money, mainly via stock options. I'm guessing his NW is somewhere between $30M and $50M.

My sister is in a similar situation. She has no need for any more money, but I believe she has reached the career level where people kowtow to her and she pretty much writes her own ticket with regards to hours worked, vacations, etc.
I don't think most REALLY top-level executives ever bail out early. They're corporate demigods -- why would they want to give that up?

My brother in law is another story. He's an engineer with the same Fortune 100 company that employs my sister. He's cranky by nature and clashes regularly with whatever supervisor has the ill fortune to have to manage him. I've heard him grumble for 30 years about work, but he could retire tomorrow if financial security was an issue. I think he just likes to fight.

The fact that he's married to a senior executive has probably saved his job more than once.

[CaliKid]

It's hard to walk away from a well paying job. I like stashing extra cash even though we have "enough" already.

[COcheesehead]

I see/know people like this. Some just lack imagination. They have never put much thought into “what would you do if you had the time and the money.”
No disrespect to anyone, but it’s easy to hit the alarm, get up and do the same thing everyday.

[USGrant1962]

As my signature line says, I'm semi-ER. By any reasonable measure I am FI, so I am FIsRE or something.

When I retired from megacorp two years ago, which was 4 days after my 55th birthday to make sure I could access my 401(k) if necessary, I planned to consult about 1/4 time. I was well below that in 2017 and 2018, though I made enough to cover health insurance premiums. I did get a little bored - especially in winter. This year I have a pretty solid commitment to work 1/3 time. And a lot of that is at home in my pajamas .

In my case, I like my line of work but didn't like the megacorp BS that went with it. Yes, my BS bucket was full . So by consulting I get to do the fun stuff and my clients get to deal with the corporate BS. On an hourly basis consulting pays better than the corporate grindstone. I can't even count the weekend work, travel on Sunday, getting home after midnight on Friday, two-week business trips, and short term assignments away from home I did as an employee.

I guess my bottom line is I "just keep working" (part time) because I like the intellectual challenge, like the social aspects, and like the occasional travel (versus half-time or more away from home when I was corporate). And the hourly pay is way better, especially accounting for my former commute.

[brucethebroker]

Quote:

Originally Posted by street It is interesting of some of the people I know that continue to work. I'm talking about 4 couples that we know that are multi millionaires and still working. These couples are all at 60 to 64 years of age. They don't own businesses but work for prominent companies and making huge wages and I may add these jobs are high stress. None of them over spend and a live modest life styles. I guess they love to work and want more. Not all want to retire but want to keep making money and socking it away. Lol I think all of them just don't want to give up their prestige's titles and identity. Any of you know people like this?

Do I Know any? No, but a huge number of those folks check into this forum each year. "I have X multiple millions in savings/retirement plans and am scared to quit working" is the typical first post.

[ckelly78z]

I have always valued off time at home as an unbreachable commodity that no job will ever touch. So many workers just plod along, never planning to do anything else, with no dreams, but all driving new cars, and living beyond their means.

[albireo13]

We need more folks to keep working, to continue funding the SS coffers!

[street]

Quote:

Originally Posted by ckelly78z I have always valued off time at home as an unbreachable commodity that no job will ever touch. So many workers just plod along, never planning to do anything else, with no dreams, but all driving new cars, and living beyond their means.

I see this a lot also, driving the 50000 to 60000$ vehicles and expensive boats and beautiful pull campers etc.. They are happy and I'm happy for them also, to each there own. Lol

albireo13
We need more folks to keep working, to continue funding the SS coffers!

True, just keep on working, we need those also. Lol

[braumeister]

There are several people on my block who are known to be wealthy, yet still go to w*rk every day in their 80s (one recently turned 90). Some own their own businesses, others are partners. They all seem very happy with their lives, which is all that matters.

[street]

^ that is interesting! If you own or a partner I could of seen myself working late in life. In most cases it isn't the work we did that was a drag but the politics. In ownership you are the Gov so the politics don't have the effect like an employee. Which would make staying and work more appealing. Lol

[Sojourner]

I know two guys, both very wealthy, who continue to work well into their late 60s/mid 70s. Both started and still run their extremely successful companies, and both seem to be enjoying it. One of them has a NW in the low/mid nine figures, and he told me once that he keeps working and trudging into the office every day (even weekends) because "I don't know what I'd do with myself if I stopped working."

People like this are not driven by money the way 99% of other people are. They are driven by prestige, achievement, and building a business legacy. My 9-figure acquaintance, for example, gets more of a thrill talking and bragging about his business achievements and networking with others like himself who do the same than he does going on exotic vacations, playing a round of golf at Augusta National, or even spending time with his family. From what I can tell, entrepreneurial prestige is his religion and he is a happily devoted adherent.

[marko]

Quote:

Originally Posted by Mr._Graybeard I don't think most REALLY top-level executives ever bail out early. They're corporate demigods -- why would they want to give that up? .

That was me.

I lived like a rock star for 30 years (lots of power, big pay, a driver, first class travel, apartment in Paris) but just as it stopped being fun, we sold the company and I was deemed redundant by the new owners. I was 52.

Fourteen years later, it all seems like a dream that never really happened; I'm a much better, healthier person now for having left it behind.

[Dd852]

Quote:

Originally Posted by marko That was me. I lived like a rock star for 30 years (lots of power, big pay, a driver, first class travel, apartment in Paris) but just as it stopped being fun, we sold the company and I was deemed redundant by the new owners. I was 52. Fourteen years later, it all seems like a dream that never really happened; I'm a much better, healthier person now for having left it behind.

Ditto that brother. I thought I was having fun, but when the decision was made for me (also at 52!) it opened up a marvelous new world. It hurt like hell at first. It took probably about a year to get over the “me?? They dumped me!! But... but...” Once over that psychological hump, it’s been great, and yes, far more healthy and sane. I’m not quite sure now how DW put up with the old me. The present me is much better.

[Lawrencewendall]

I can relate why some people just keep w*rking. The apprehension and second guessing myself over my numbers is unbelievable. I keep thinking I missed something. I still joined the class of 2019 (7 June).

[COcheesehead]

Quote:

Originally Posted by street ^ that is interesting! If you own or a partner I could of seen myself working late in life. In most cases it isn't the work we did that was a drag but the politics. In ownership you are the Gov so the politics don't have the effect like an employee. Which would make staying and work more appealing. Lol

I own a business, currently in the process of selling it. Being on top has its own set of issues. You end up being the chief baby sitter and you never really, ever leave work. Its always with you.

[audreyh1]

Quote:

Originally Posted by Chuckanut The few people I know who are financially independent and still work are those who have a lot of control over their work situation. Those who have to work certain hours, and have a boss tell them what to do and when, seem to like an earlier retirement.

Exactly!

[marko]

Quote:

Originally Posted by Dd852 Ditto that brother. I thought I was having fun, but when the decision was made for me (also at 52!) it opened up a marvelous new world. It hurt like hell at first. It took probably about a year to get over the “me?? They dumped me!! But... but...” Once over that psychological hump, it’s been great, and yes, far more healthy and sane. I’m not quite sure now how DW put up with the old me. The present me is much better.

Yeah. In my case I knew it was coming a few years ahead as I was directly involved in the sale. Also, I had a hefty contract which made my departure a lot more palatable but as you say, it's a whole lot better now.

Best thing that I ever did.

[HI Bill]

Quote:

Originally Posted by braumeister There are several people on my block who are known to be wealthy, yet still go to w*rk every day in their 80s (one recently turned 90). Some own their own businesses, others are partners. They all seem very happy with their lives, which is all that matters.

The question I would ask them if I could: If you were dying today, without retiring and doing something else with your life, would you regret not doing so? If the answer is no, then they made the right choice. Some people truly live for thier work, and love it, and some people need to stay busy.

Many early retirees I met on Maui found jobs or started doing what they had been doing on the mainland after arriving around age 50. Real estate agent went back to selling real estate. Landlords started buying new properties. Etc. They all thought Hawaii, diving and exercise would be enough for them, but apparently, it wasn't. I sure hope I don't turn out to be one of them. But if I am, and I refocus on something that is more of an avocation than a vocation, then that's all right (e.g., professional underwater photographer).

[marko]

Quote:

Originally Posted by HNL Bill The question I would ask them if I could: If you were dying today, without retiring and doing something else with your life, would you regret not doing so? If the answer is no, then they made the right choice. Some people truly live for their work, and love it, and some people need to stay busy.

And some people just lack the imagination of not having a job.

They can't visualize sitting on a beach in Italy for an entire season, eating late dinners and reading the paper in the shade over a cup of cappuccino. It's NOT "like being on vacation every day"...it's different; it's now how you live.

[audreyh1]

I think that some imagination is required for a fulfilling retirement and if someone has no interests outside of work and can’t imagine life not working, then maybe it’s better for them to keep working.