Personal Finance

I'm 59 and make over $400k annually but my job is so boring and easy I just might quit - is that crazy?

Kristin Hitchcock

Published: December 14, 2024 1:24 pm

When most people dream about retirement, they imagine walking away from a stressful, demanding job—not a cushy, well-paying gig with light responsibilities. But this isn’t always how it works out!

24/7 Wall St. Key Points

• The decision to retire isn’t always about money. Even if you do have enough money to retire, there is often some emotion involved, too.
• Even if your current job is easy, if it isn’t enriching, it may be time to retire.
• Also: Take this quiz to see if you’re on track to retire ^(Sponsored)

As one Redditor shared on r/chubbyFire, the decision to leave an “easy” job is far from easy, even when financial security is in the bag.

Let’s look a bit closer at the poster’s situation and then look at what the best way forward may be. Remember, this is just my opinion, not financial advice.

The Situation

The poster is a 59-year-old corporate veteran who is sitting on an impressive financial foundation:

• Liquid Net Worth: $5.5 million
• Primary Home Equity: $1.5 million
• Vacation Home Equity: $1 million

So, what’s the problem? Well, thanks to recent corporate shifts, their job demands have plummeted, and they’ve found that they have it rather easy. Once a high-pressure, 50-60 hour-per-week role, it’s now a low-stakes, 9-5:30 office job with minimal responsibilities—and a salary in the $300-400K range.

The Redditor feels bored and unfulfilled at work and is considering walking away completely. However, they also feel guilty about retiring from such an easy position.

The Tradeoffs of Staying

Sticking with the job does have several perks:

• Financial Upsides: The continued salary can help bolster their financial foundation even further, providing an extra cushion against market volatility and unexpected expenses.
• Predictability: The role is stable, with little stress. There is something to be said about structure and stability.
• Investment Time: Working longer could let OP continue to capitalize on compound interest and market growth. His money would have more time to grow in the market.

However, there are several obvious downsides to staying too:

• Boredom: The poster has admitted that they feel bored and disengaged at work. This could be a warning sign of burnout.
• Time Cost: The job still requires some time and effort, which could limit the poster’s ability to spend time doing things that they actually enjoy.

Why Leaving Could Make Sense

For many in the FIRE community, the ultimate goal isn’t just financial independence—it’s the freedom to live life on your own terms. OP’s financial position supports this freedom. There are several reasons why leaving makes sense:

• Time Freedom: At 59, OP is well within retirement age and can focus on hobbies, travel, or other pursuits that add meaning to life.
• Mental Health: Staying at a job you don’t like isn’t good for your mental health, even when that job is “easy.” It may be best for the poster to spend time on more fulfilling activities.
• Financial Independence: The poster does have enough financial independence to live the lifestyle they want. They don’t need to work.

So, what should the poster do?

Making the Decision

For the poster, the question comes down to a closer evaluation of their values and goals:

• What’s More Important? Is the additional income worth the time spent in a role that no longer serves a purpose beyond financial gain?
• What Will Retirement Look Like? Does the poster know what they want to do in their retirement? Having a plan for what retirement will look like can help ease the transition and reduce uncertainty about leaving.
• Run the Numbers (Again): While the poster has a very strong financial position, confirming this with a financial advisor can help provide some extra peace of mind (which may be all the poster needs to make that leap).