What's the job really worth?

[deepc]

Just decided to leave a well paying, big benefits job. The math and the many replies to my previous post re the value of time vs the value of money were the deciders.

Here's how it came out. My 100k posit nets 70k in the black annually after taxes and expenses. I have a COLAed pension from a previous career, medical benefits, and enough assets to cover my expenses, without the job.

That 70k in the bank nets less than 3500k annually in retirement income, as I'm investing. So for an extra 300$ a month in retirement I've been trading a year of my life, every extra year I work?

Hadn't seen this thought process used, and it helped me greatly by putting a quantitative value to the efforts of a year at a job I mostly hate, but kept for its contribution to my future.

 

[Spanky]

That 70k in the bank nets less than 3500k annually in retirement income, as I'm investing. So for an extra 300$ a month in retirement I've been trading a year of my life, every extra year I work?

I think you mean an extra income of $3,500 per year. This is one way to look at it, but the value should include the $70K.

 

[deepc]

I think I follow, the 70k over say 30 years could be drawn down at like 194$ a month. Obviously reducing the interest over time...more complex than I care to deal with.

Can't say it was the only factor, just the one that got me over top dead center. I mean, just banking the money isn't worth the cost for the benny...at least for me.