Do rich people think of stopping?
Like people who make $250,000 a year?
It's a high opportunity cost, and yet, probably at 45 years old, I'm sure they would have plenty of assets already to sustain a good lifestyle after they leave their jobs.
How about millionaires? Billionaires? Do they think of stopping?
I look at my wife for this. She doesn't make anywhere close to $250,000 per annum.
But I can see that she enjoys her work. And it's when I see this that I understand that sometimes, there really isn't any need to stop. 40? 45? 50? She's happy doing what she's doing so it makes sense for her to continue.
We have discussed this. Even though she is happy with her job, she talks about the day when she wants to let it go as well. Maybe 50+ she says. She thinks that's a good age, she still has the health to travel around and do other things in life.
On the other hand, I have my doubts that she will want to stop working... I'm thinking closer to late 50s or early 60s. Cos I know she doesn't have much interests outside of work. She doesn't like to run around and do physical activities, or get involved in social work and such, and if she enjoys her work so much, then why not continue? It doesn't stress her up much.
But we'll take it as it comes, as the years pile on, we'll decide as we move along in life.
However, I look at a friend of mine. He's rich, multiple properties under their name (husband and wife), but he isn't really happy with his work. His spouse has quit his job. They have many loans to the properties to service. I mentioned that they should consolidate their property equity, sell of some properties to pay off all their loans and live off rental forever. They definitely could live off a good rental income forever as they would own at least 2 fully paid condos, on top of the one they are staying in.
And yet this friend of mine continues to work. He has a young child so it adds to the uncertainty... So I'm sure a job provides him the sense of security needed for the future.
I've mentioned before... I now believe that there's no real need to retire early.
If one is happy with their job, or neutral with their job, I think it's good enough to cruise along and continue working and taking their leave, and going on holidays, etc...
Cos after talking with many people and discussing about their interests and stuff, I realized that many (many, not all) people do not have much interests or hobbies that they want to pursue which results in them ending up bored when they suddenly have so much free time.
This happened to me and for a period, I was just playing games and watching shows, it becomes a quick routine and without conscious effort to find something else to do, it's easy to end up as a couch potato.
Cos what happens is, after leaving their jobs, most people go into their default activity when they are on leave, or weekends/public holidays. They want to travel, or just laze at home, or play games, etc...
BUT, this is NOT just a normal "leave" or holiday, it's retirement, and there's a big difference, so it's not sustainable or reasonable to do the same activities as when on taking leave or holidays as though as still working.
So is there a recommended time to stop?
For me, I think that if someone is happy with their work, or at least contented, or "don't mind la", I think it's ok to continue working for a bit longer.
If someone is dreading work, getting depressed on Sundays cos Monday is here... Wondering what they are doing with their lives...
This is like depression already, and I've experienced this many times in my working life.
Then I think that's an indication that that job isn't really suitable. Maybe the person should change a different career path? OR if it's a high paying job, then the person may want to strive for early retirement or semi-retirement, cos with a high paying job, they are able to accumulate wealth quickly and finish the race earlier and have more time to explore other interests or new career paths.
When I look at rich people, millionaires... etc... I do ask myself...
Are they happy with where they are or what they are doing?
Cos I know some aren't. It's easy for outsiders to look at them and think they have it easy. But that's not how things work. Everyone fights their own battles and it's easy to judge a rich person and think they are having it easier than someone who is just normal...
Like Anthony Bourdain... Why didn't he just stop? He was someone with all the resources to just call a stop and take a break... and yet he didnt?
Why? Probably... Just probably, cos I don't really know why... but probably... he was living with everyone else's expectations. Cos he may be telling himself to continue, cos he believes he has no right to complain. He's living it up, everyone else thinks he's living a good life, he's worked so hard to get where he is, and maybe he tells himself that it's normal. This pain is normal for this kind of success... But it's not...
So for me, I think... When is the time to stop?
When life has no more meaning, when I was going to work, dreading Sundays, cos Monday is here.
Or Fridays didn't bring much happiness, cos Saturday will be here soon, and means Sunday is here and means Monday is here soon as well... (I really thought this...)
When I went to work feeling afraid of what would happen, cos I didn't know how to handle the job, or what "bright idea" my boss would think of next...
Or when I went to work feeling helpless, cos I knew that there was nothing to be done in office, cos I would go through a whole day worth of meetings and no decision would be made and for weeks, nothing would happen and the "bright idea" would just disappear cos the NEXT "bright idea" would appear and we would just discuss this NEXT "bright idea" for the next few weeks without really doing any real action on it...
I didn't know then, but I was depressed... not as serious as depression itself... but I was depressed and it was horrible... and now I know... that this kind of situation is unhealthy and avoidable... and I was lucky or able to put it all down and walk away.
And for me, I think THIS, is when it's time to stop... or at least take a break.
Life is only for 80+ years... there's really no point suffering through it.
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