"A nest egg of $18 million per year is very large. At a safe 3.7% withdrawal rate, the Redditor could spend $666,000 per year. Since the OP said he's spending $300K plus his mortgage payments, he's most likely well below that amount (depending on just how much the mortgage balance is). Since his income needs would be more than met by his savings, there's really very little reason to continue doing work he doesn't enjoy."
"After all, most people want to make money not just to see their bank account numbers tick up but so they can have the freedom to enjoy life on their terms. If you have $18 million and you're forcing yourself to go to work every day instead of enjoying the money you've made, you really have to ask yourself why you'd make that sacrifice."
An individual in his late 40s has $18 million net worth excluding his home and a $2 million remaining mortgage, three children at home, and annual spending around $300K plus mortgage. The job pays well, includes stock options, and requires 25–30 hours per week, but it causes fatigue and reduces enjoyment of hobbies and personal time. Working one more year could earn an additional $1–1.5 million or more. A 3.7% safe withdrawal rate on $18 million would support roughly $666,000 per year, covering current spending and implying little financial necessity to continue working if the job causes significant unhappiness.
Read at 24/7 Wall St.
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