I posted some of this buried in another thread, but I thought by starting my own thread I might get some useful feedback from people who have struggled with the same issues I am.
I am 52 years old. I have worked hard, devoted too much of my life to work, and lived with too way much stress. I rose to a pretty high level in my occupation, though I never really enjoyed it. My job has high, and continuously increasing, expectations and in some ways is 24/7. (Obviously, I am not actually working 24/7, but I am always "on call" and connected, even during vacations). The money is good -- seven figures a year. But of course they don't pay that sort of money and not get their pound of flesh in return. There's a lot of internal politics, which I dislike. I have lived below my means, though not as frugally as many on this board who seem to be skilled at maintaining a high quality of life on relatively little money. Still, I have managed to build an investment portfolio of around $15 million, plus a house that is fully paid for.
I am trying to figure out why I am still working. In psychoanalyzing myself, this is what I have come up with:
- Habit/inertia (easiest to just keep doing what I have done for many years)
- Everyone else I know is working, and nearly nobody in my business retires early?
- An ingrained belief that a guy gets up in the morning and goes to an office?
- A fear that if things go really, really badly, we might not have enough money to live the lifestyle we want (even though Firecalc consistently shows no such scenarios)?
- Not wanting to retire while we still live in the suburbs and have a kid at home (a few more years) because I am not sure what I would spend my time doing?
- Some part of my identity is tied up in professional stature and achievement? (I would really like to think that is not the case, but I am trying to be honest with myself)
- Fear of the unknown?
- Some personal relationships within my organization (and nationally in the industry) that I like, and would probably lose after retirement
- At my current income, each additional year has significant economic value (but of course non-economic costs).
I realize that, in the end, I just need to decide how much longer to work. And I am intensely aware that life is short. But for those of you who have struggled with some of the same issues and considerations, I am interested in your ideas. Thanks.