Personal Finance

I'm 34 and went through a successful IPO that immediately bumped my net worth up $2 million - do I need to keep working?

Aaron Webber

Published: December 8, 2024 2:30 pm

Key points:

• A net worth in the millions is more than enough money to retire. Working after this point is a personal preference.
• Money can always be reinvested, and you can start work again, but you can’t go back and raise your kids again.
• Also: Is your 401(k) optimized for your retirement plans? (Sponsored)

Is there any point in continuing to work after you’ve earned enough money to live multiple lifetimes? Why keep working if you don’t have to? How much is enough money to retire?

Questions like these often come when we find ourselves with large amounts of money.

One person in particular had these exact questions and went to r/fatFIRE for answers. This is a community focused on financial independence and early retirement, mainly revolving around amassing as much wealth as possible.

Please remember that the internet is not the real world, and the opinions shared here, and especially on Reddit do not reflect reality and do not constitute sound financial advice. You should always consult an expert before making any significant financial decision.

The Question

The author of the Reddit post in question is 34 years old and with a recent successful IPO, saw their net worth jump from $1.5 million to over $3.7 million. They transitioned to another company as an executive and have another potential $1 million in funds coming their way. They didn’t give any information about their yearly income, but they do have annual expenses of $120,000 per year.

They admit that their current job is very busy and they aren’t sure how long they can keep doing it, especially with two young children. However, they do want to keep working for around 7–15 years so they can reach $10–$20 million in net worth. They didn’t give a good reason why

They were curious about what other people had done in a similar situation.

The Community Response

Compared to the other questions we have covered, this one had a range of answers from quitting and actually enjoying the money to continue working and even working more. Keep in mind, the question was posed to those in the fatFIRE community, whose entire life goal is to “retire with a fat stash” so realistic advice on how to live a balanced life and priorities will not be found here.

A few reasonable people said he could easily retire now and never have to worry about working another day in his life. He has accumulated more wealth than many people will ever see over multiple lifetimes. Meanwhile, he is missing out on raising his own children because he’s trying so hard to hit some arbitrary financial goal. Chances are he will look back in a few years and regret working so much.

The other large cohort of responders gave their own personal opinions of what their own financial goals would be, how long they would work, and what they would do with the money. Since many of them have vastly different goals, lives, and situations, this financial advice is largely useless. Some even recommended that he continue working and retire at the last moment just to see how high he can get his net worth as some kind of real-life video game character.

Most reasonable commenters admitted that he could retire whenever he wanted, and what he does with his money, when he retires, or what he does with his career are all points of personal preference at this point, as he has no risk of ever running out of money.