Picturing Retirement: Procrastination and Brain Teasers

Photo Friday  On procrastination:  I've been thinking of many blog posts over this last silent month but getting none of them on (virtual) paper.  Sorry about that.  On brain teasers:  The reason is because of what we bean-counters (even part-time bean-counters) call Busy Season.  I'm only somewhat embarrassed to admit how much fun I've been having using the left side of my brain these last few weeks.  When a part-time job demands full time, it's a lot easier to handle than when a full-time job feasts on your soul as well.

Which brings me to the next brain teaser. Yesterday I received a great question from a reader, Craig.  He asked, "Although you already have "Enough," if you could work for exactly one year starting tomorrow, and make $500k after tax (working full-time but without killing yourself), would you do it?

The truth is I haven't figured out the answer to that one yet, but I'd love to get your answers to get the conversation started.  Especially those of you that are retired or are not yet retired but hate your jobs.  (Obviously if you are already working in a full-time job you love, this would be a no-brainer.)

(To submit your picture of retirement, email me a photo with how you would like it credited.)

Related Posts:

Sydney Gets Her Groove Back

Retirement as a Balloon Animal

How Do You Know You're Retired if You're Still Working?

 

 

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Comments

[John The Contractor]

... the question would evoke a simlar response if the question was, "If your wife said you could have one night of passion with Shania Twain, and she was okay with it, would you do it?" Well the obvious answer would be, "Sure why not!"
Where the response gets more complex is when there is actual skin in the game, for example would you do a job that you dislike, or would you do a job that would mean being away from your friends or family for a year for 500K... then the response becomes more measured and an actual brain teaser.

[Tigerlily]

My first questions is what do I have to do for the money? Some jobs would be fine and others wouldn't. Would I have to be away from my husband and child? Some of these things would be deal breakers. And yet a year is such a finite period that you figure you can almost do anything (legal) for a short year! But then again I don't think I would trade watching and participating in my son's life as he turns 2 and beyond......would you trade what you are doing? Sometimes that is hard to know until you try.

[morrison]

To me, $500K is too little. My number is One Million. Net.

The job would be, to me, immaterial.

At this stage of the game, to get me out of retirement, and away from 'enough', the bottom line would be all that would matter. The money would have to be big enough to garner my precious time.

[mikeBOS]

I just reached FI and am planning on retiring in the next year and a half or so.

My initial reaction is also that it's not enough. $1M after taxes might get me out the door. The problem is, the only thing I can think that I'd do with the money is give it away.

When I'm already living in beautiful home, with all the high-end "stuff" I could possibly want, and getting my yearly fill of luxury travel as well, what would I do with another $500k? I'd much rather have my time to enjoy the resources I've already accumulated.

[R]

I am sorta in this situation. Could probably retire, but am going to stick it out for another year, if possible, as a buffer.
When I do multiple $$ projections, if my investments earn 6%, I'll be fine, 5% little short. Would like to cover this...

[sightings]

I was "early retired" 9 years ago. Sign me up!

[Penta]

Great Question! Does the below viscious circle sound familiar to anyone?

I hate spending my life in a corporate beuracracy being told what to do and where to live…It sucks the very life right out of me and hurts my human soul…

But the money is so good, I tolerate everthing…afterall, Should feel grateful to have a job, let alone one that pays so well, especially in this economy of 10% unemployment…

But what if got to a point where we don't "need" any more money? Wouldn't that release me…?

Sort of, but the outside world seems to want you to make some kind of contribution if your under 60…,and wouldn't a few more dollars always feel good anyway…,

Ok, so I'll do something I like better, even if it doesn't pay nearly as well as my corporate gig…

e'hem…, if you're going to spend 50 hours working, (you know it will ultimately happen no matter what you say) why not make as much money possible while doing it…?

Wouldn't a few more dollars feel good anyway…?

[Walkinwood]

For me, it would depend on the definition of "enough". Most of us who have retired early (I retired 3 1/2 years ago at age 48, DW was 45), have substantial portions of our portfolio in equities. So, while we may have enough based on historical calculations (Safe withdrawal rates), there is a risk that the future will be worse than the worst of the past. If my safety cushion was fat enough, I wouldn't waste a year working. Right now, having ER'd into a stock market crash and hearing congress talk about 'addressing' entitlements, my safety margin is not that good, and I would be willing to give up a year to shore up the reserves.

[fred doe]

hell yes. when can i start.

[John Q]

I have been a saver, and do have enough in my early retirement to carry me though. I enjoy retirement but at $240 per hour I would work for another year then up my spending on fun stuff. But then what would I do when I developed this new fun stuff life style and only had my old budget to live on?

[Janette]

Not so sure. I love working part time. Being able to call and say, "feeling a bit under the weather today- not coming in" works for me.

Nope- probably not. Taking the time with my family means everything to me right now.

Now just consulting for $240 an hour----probably would.

[Don F]

Interesting question... Things can get a bit "deep" when factoring in the needs and wants of an individual or family. If you need to income to feed your family and pay rent, then I would do it regardless of how much I disliked it. If I didn't really need to money, but perhaps wanted to have some extra cash to take vacations or buy a boat, I would seriously consider how much stress it mean't taking on. In the end, in my current situation, I would not take the job. I'm happy as a clam in my retirement with no needs and my wants takien care of!

[Kathy Sterndahl]

Without a second's hesitation! I'm fine with what I've got but that $500K would certainly increase my time on the road and the level of luxury in my travels.