Qs Laptop
Thinks s/he gets paid by the post
- Joined
- Mar 11, 2018
- Messages
- 3,603
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?
It seems like you are asking two separate questions. First question is should you keep working to double your nest egg? Second question is if you are already retired, would you go back to work for a couple of years to double your nest egg?
To answer the first question, yes, I would keep working an additional couple of years to double my nest egg. You say you've "more or less hit your number", but I sense that you might want more. So, unless you can't bear running your business anymore, I'd stick it out and stockpile some more money.
Some personal background. I'm a 60 year old business owner whose business was almost taken down in the Great Recession. I recovered and I'm doing better than ever. I like running my business, it's not hard to do and there's still enough challenges to make it interesting, so I keep plugging along. After some very dark days I'm starting to get paid well, so I keep going.
If you're not stressed and you like your work I say keep going.
Answer to the second question would be no, if I was retired and I was living comfortably I would not go back to work to double my nest egg. Of course, if I was 50 years old, retired and bored, I might do it.