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View Poll Results: How long would you return to work to double your nest egg?
Not a single day! 46 36.80%
Less than 1 Year 19 15.20%
1 year 22 17.60%
2 years 13 10.40%
3 years 9 7.20%
4 years 4 3.20%
5 or more years 12 9.60%
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How Long Would You Work To Double Your Nest Egg?
Old 09-25-2018, 06:21 PM   #1
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How Long Would You Work To Double Your Nest Egg?

I know a lot of people here deal with "one more year" and "golden handcuffs". I'm in a situation where I've more or less hit my number, but my business is doing very well and for the next couple years I should be making 2-3 times what I made the last five. Enough that, with some luck, I can double my nest egg in just a few years. Is it worth it? If you've retired already but you could double your nest egg by working a couple more years would you?
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Old 09-25-2018, 06:26 PM   #2
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How young are you?
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Old 09-25-2018, 06:27 PM   #3
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If you've retired already but you could double your nest egg by working a couple more years would you?
For me, it would depend on quite a few factors (in no particular order).

1) My current age and health. Working two more years at 56 is a lot different that working two more years at 46.
2) Are my current assets enough to satisfy my want/needs?
3) What are you giving up to double the nest egg? Best years of my grandkids lives? Best remaining years of your life?
4) Is there something you want that you can't currently afford? Lamborghini, beach house, etc. Is it worth giving up two more years of your life to buy this?
5) Do you have satisfaction in retirement (e.g., something to retire to), or are you bored, and wanting to achieve something?
6) What is your estimated withdrawal rate with current assets? If it's 3-3.5%, then no need to keep increasing the size of the pie.
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Old 09-25-2018, 06:34 PM   #4
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I would work 2 weeks to double my nest egg. I donít know what I would do with the extra $, so I donít want to waste too much time making the extra $.
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Old 09-25-2018, 06:37 PM   #5
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Old 09-25-2018, 06:43 PM   #6
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How young are you?
I'm 48, but I'm interested to hear what everyone on the board would do in their personal situation today even if it doesn't directly apply to me.

Quote:
Originally Posted by HNL Bill
Are my current assets enough to satisfy my want/needs?
My current assets are probably enough to satisfy my needs, but wants . . . well, I'm sure I can come up with something!
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Old 09-25-2018, 06:46 PM   #7
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I would work 2 weeks to double my nest egg. I donít know what I would do with the extra $, so I donít want to waste too much time making the extra $.
Sounds about right to me. I just couldn't see going back to the work grind. And the reality is that anyone offering me that kind of money is going to be looking for a lot of work in return.

While I was looking I hung in there longer than I needed to, because I was in a comfortable role without a lot of expectations, but the days of doubling my nest egg (like what happened in the early years, most every year) were gone.

You said you "more or less" hit your goal. In your shoes I would probably hang in for another year or two if you don't mind the work. You'll probably never have that opportunity again, so in my mind, better to pad your nest egg while you can do it in a big way, than to find out you were a bit off and had to go back to work for another couple years (just as long as if you'd stayed), just to get yourself back to "good enough".
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Old 09-25-2018, 06:50 PM   #8
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I have had a comfortable life but not extravagant. I got to a point in my work career that I was making more and more money but yet I was not any more or less happy.
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Old 09-25-2018, 06:50 PM   #9
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I worked 6 years extra to reach 2X, but returns were above average as was my income during those 6 years. So it wasn’t exactly planned...
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Old 09-25-2018, 06:52 PM   #10
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The key word is ďmy businessĒ. I never had one....If it was my baby and it was doing well, it might be hard for me to let it go. Unless it was not enjoyable. I dont remember you stating either way, your emotional satisfaction or not.... My decision was a no brainer. I am a pensioner, so there really wasnt a reason to work longer as the pension is all I need. And oddly enough, more is stacking up now than ever despite being retired. Wish I could have saved like this at a younger age. Now it just backs up because I have lost zest for material things for some odd reason.
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Old 09-25-2018, 06:52 PM   #11
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I am semi retired and have recently committed to 3 more years with my business partner before shutting down (or selling). I will be 48ish.

So, count me in for 5 more years from today if it would mean millions more. What the heck. I'm already handsome, might as well be rich too.
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Old 09-25-2018, 06:52 PM   #12
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I'm in a situation where I've more or less hit my number
If I were in a situation where I was that wishy-washy about "hitting my number," then I'd probably keep working.

I'm not. So no.

I did go back to consult on a part-time basis with my former employer. But that was for fun. I'd do that again. If it wasn't fun, then I wouldn't have done it, even though the money was good.
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Old 09-25-2018, 06:58 PM   #13
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Originally Posted by bongo2 View Post
I know a lot of people here deal with "one more year" and "golden handcuffs". I'm in a situation where I've more or less hit my number, but my business is doing very well and for the next couple years I should be making 2-3 times what I made the last five. Enough that, with some luck, I can double my nest egg in just a few years. Is it worth it? If you've retired already but you could double your nest egg by working a couple more years would you?
Depends on the following-
1) Am I adding to nest egg while waiting, or letting the balance ride?
2) Can I reduce hours worked while I am waiting
3) Am I changing asset allocation?
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Old 09-25-2018, 07:09 PM   #14
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3 years.
But since I retired from a technical position over five years ago I doubt anyone's going to offer me five times what I was making then.....
Guess I'm now stuck with gold digging gigolo option now. Good thing I'm so darn good looking.
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Old 09-25-2018, 07:11 PM   #15
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Now it just backs up because I have lost zest for material things for some odd reason.
That is interesting. Same here for the most part.
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Old 09-25-2018, 07:12 PM   #16
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How long? Try zero.


Since the bottom of the 2008-09 recession, in early 2009, I have nearly doubled my nest egg without working a day. That's my kind of math!
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Old 09-25-2018, 10:21 PM   #17
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You are only 48 so I would definitely stay.
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Old 09-26-2018, 12:16 AM   #18
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You are only 48 so I would definitely stay.
Plus, if I liked the work, I'd stay for as long as I felt good about what I was doing. Toward the end for me, I would have had to stay way more than a few years and I don't think even staying for ten would have significantly changed my life in retirement. And, I just didn't feel it any longer. It was time to go. More money just wouldn't have made a significant difference in the equation.
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Old 09-26-2018, 03:41 AM   #19
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Depends on the size of the nest egg. Between additional savings and returns on what I already had, I figure I could have had another $1 million if I'd worked to age 65 instead of retiring at age 61 (that would have increased nest egg by about 40%). Don't regret ER at all. If the nest egg had been something far more modest I probably would have gone looking for another job.
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Old 09-26-2018, 05:28 AM   #20
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I would work 2 weeks to double my nest egg. I donít know what I would do with the extra $, so I donít want to waste too much time making the extra $.
I might do more than 2 weeks, but not a lot more. We already have what we need.
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