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The decision to leave a job is usually not an easy one. But it can be even tougher when you're convinced you've landed an amazing one.
That's the situation we have in this Reddit post. A 42-year-old man with $2.1 million is leaving what can only be described as a dream job. But he has his reasons. And he wants reassurance that he's not making a huge mistake.
Image source: Getty Images.
The story
The person has a $2.1 million nest egg with no debt. He lives in an RV and is happy with it.
It's time. 42M with 2.1M
byu/roundearththeory inFire
His reason for leaving his job is simple. As he writes, "Despite looking at the beginning of my peak earning years, I also recognize that this is the tail end of my peak life years."
As he explains, he's in good health and likes spending time with loved ones. But his job gets in the way of that. He's frequently busy and stressed, and his job comes at the cost of time spent with family and doing the things he wants to do.
When the opportunity arose, he took a three-month severance package and left his cushy job. But he's apprehensive. Not only is the job a big part of his identity, but his savings aren't quite where he wanted them to be in conjunction with leaving a high-paying role.
Did this person make a mistake?
Offhand, it seems like this person has a good head on his shoulders. It sounds like he thought about the decision to leave his job carefully and made sure to only do so once his savings were in a good place.
The person isn't sure what's next, but it's clear that he's burned out and needs a break from work. With over $2 million in savings, he can probably afford a decent one. That could mean taking some time to travel, explore hobbies, and spend time with the people he cares about.
But the person should not assume that his career is over in any way. The skills he built at his dream job are likely translatable to a new job once he's ready to get one. And at that point, he can look for a job that offers a much better work-life balance.
Will the pay be as high? The poster doesn't seem to think so. But with a $2.1 million cushion, he can probably afford a pay cut.
Even if the poster doesn't add to his $2.1 savings, if he invests it in S&P 500 ETFs paying 8% a year, which is below the market's average, in 20 years, he could be sitting on almost $9.8 million. So as long as he can earn enough to cover his expenses between now and retirement, he should be in pretty good shape.
It's never easy to leave a job that offers a giant paycheck. But sometimes, that's the right move.
While you don't want to look back on life with financial regrets, you also don't want to spend your years of peak health rotting away in an office. It's a good thing that this person recognized that and did something about it. And he should feel confident that he's saved enough to buy himself options.
