List of 10 Reasons - Should I Stay or Go

[DivinDave]

I was listening to a guy on the radio last week about early retirement. He was talking a good game when he came up with an interesting thought. He suggested making a list of ten reasons to stay (employed) and ten reasons to go (retire).

I stuggled with it for while and then the reasons to go flowed like water. The reasons to stay, were mainly minor financial. Future, service awards, supplies I can liberate, future extra vacation time if I could reach the magic 20 year employment mark.

Can you (the wise early-retirement.org folks) advise me what reasons you may see to stay or go?

 

[Meadbh]

DD, I can't give you YOUR reasons, but I might be able to come up with my own list.

Reasons to stay:
1. I enjoy my job most of the time
2. My work is appreciated
3. I have a meaningful degree of influence over some pretty important decisions
4. I'm pretty comfortable in my job
5. The money is good (but not great)
6. I've spent a lot of years getting to this point (the sunk costs argument)

Reasons to go:
1. I'm chronically burnt out
2. I'm FI, or almost
3. I'm dreaming of travelling, writing a book, etc, etc.
4. If I had the time, I could develop an interesting part time niche consulting business
5. I would like to move

Bottom line is: I will RE when I darn well feel like it. In the meantime, I'm not taking any cr*p.

 

[traineeinvestor]

Mine are very smiliar to Meadbh

Reasons to go

1. I have a long list of things to do (finish writing the book, travel etc etc etc)
2. burnt out, unmotivated and disinterested
3. today would be a really nice day to go to the beach, to the trails, to ... to just about anywhere
4. spend more time with my children while they are growing up
5. reduce stress levels
6. bored with my job and not interested in starting a new career this close to retirement


Reasons to stay

1. not quite FI yet - need a bit more money
2. the money is very good
3. did I mention the money?

My job also offers status, a corner office, a secretary, an absence of negative office politics and provides some structure to my life - I do not regard any of these are reasons to stay

 

[NW-Bound]

YouTube - The Clash - Should I Stay or Should I Go (Music Video)

 

[FIREd]

Reasons to stay:
1) accumulate a bigger nest egg (more financial security in retirement)
2) the money is awesome (plenty of disposable income)
3) the social aspect of work (friendships, status...)
4) Feel too young to retire
5) still a few career goals to achieve before hanging it up

Reasons to go:
1) getting burnt out (crazy hours, crazy stress)
2) we hate the corporate BS and office politics
3) job requires way too much travel
4) enough savings to cut way back on work (can't retire completely quite yet though)
5) more time needed to pursue other interests

 

[DayDreaming]

A reason to go:

1. Because I can afford to retire with no financial worries.

A reason to stay:

1. Even though I can afford to retire, I'd much rather be working. I enjoy my job so much, that I'd even do it for free.

(Not that I can imagine any ever giving that reason to stay!!!)

 

[Tadpole]

Reason to go: Ran out of reasons to stay

Reasons to stay: see "Reason to go"

 

[Ronstar]

Reasons to stay:

1. Lessens the time that I need to survive on post-tax investments before I turn 59.5 and start taking 401k withdrawals.
2. I have a small ownership in the company that is hard to sell in this economy
3. I work where I want, when I want, doing what I want.
4. Good income
5. Lessens the nagging from DW that I've become a 'slacker' (She's still working for 1.5 more years)

Reasons to leave:

1. FI - (as long as I keep my spending under control)
2. Need a lot more time for my hobbies
3. Have extensive travel plans that cant be accomplished while working.
4. Since I'm a minority partner working part time, new company management no longer takes my advice or even asks for it.
5. Need time for part time business and volunteering.

 

[dex]

Reason to go:
You don't need lists any more

 

[Independent]

Reason to go:
You don't need lists any more

Excellent. I actually made lists the first few months after I retired, then the concept kind of drifted away.

 

[shotgunner]

Under reasons to go:

Do you read the obits? A lot of people die before normal retirement age.

Will you be alive or have your health in the future so you can enjoy your time spent not working?

If you are alive and have your health in the future you could potentially go back to work if you need or want to. If you are dead or in poor health you may never get to live your dreams as you could now.

 

[Independent]

In addition to the items in other lists:

Reason to go: Each year I work is one less year that I'll be alive and healthy in retirement.
Reason to stay: The world is very uncertain, I'd like a little more cushion for the unforseeable.

 

[ChrisC]

Reasons to stay:

1. Wife wants to continue to work and it would piss her off if I retired and she continued to work.
2. Money is great.
3. Pension and retirement accounts keep getting bigger every year on the job.
4. Finally made it to management -- been a long, long struggle.
5. I'm busy.
6. I enjoy some of the work.
7. I've borrowed from my 401K at .14 interest within the last year and hate to repay that principal on the loan.

Reasons to go:

1. I'm tired of the BS at the job.
2. I don't need the extra money; I'm FI, right now.
3. The clock is ticking and who knows when it will stop.
4. I want to do more fun things and contribute more to society.
5. See Meadbh's 3-5.

Bottom line; I'm at the KMA stage at the job and I'm so outta of there if wife quits her job. We both have drop dead dates for our jobs, but it could be sooner than our dates if crap hits us at the job or some family emergency develops.

This was a very helpful excercise.

 

[Midpack]

I'd already done this privately:


Reasons to Stay:

• Comfortably FI, but mo' money = mo' security, no getting around it.
• DW still likes her job
• Job pays really good, I'm good at it, can do it in my sleep.
• Social interaction at work is good for me.

Reasons to Go:

• A handful of people at Corp, and another handful at my location. Tolerating them gets harder every year.
• No pension, no health care - only our next egg & SS/Medicare (uncertain?)
• The years ahead are going to be very difficult, I've had enough of "improving productivity."
• Not that many people at work I will miss, none a lot.
• Pursue other interests, enjoyable work and right brain stuff (I've lived in my left brain almost exclusively all my life).
• Challenge and change is good for me, I'm in a too comfortable rut.

 

[chinaco]

To Stay

1-10 the money salary, increased pension, and some benefits

To Go

1 I am FI and have enough assets to generate my current salary at 4% WR. Currently (while I am working) we spend about 60% of my salary.
2 DW and I have Mega Corp Health Care (the cost is pretty low).
3 No debt.... zilch We own our home, vehicles, etc.
4-10 I hate my j*b

 

[kaudrey]

To Stay:

1) Not yet FI (although I will be before I can really retire (see #2))
2) Need to stay until a certain age to get full health benefits, and don't feel I can leave that on the table
3) Good money, good bennies, plenty of vacation time
4) I like my job and the people I work with.

Reasons to go (once I hit my MRA):
1) Have lots of hobbies
2) Should have plenty of $ saved
3) Pension and bennies will keep withdrawals well below 4%
4) Want to travel
5) I have plans...!