Got a job offer for $840k/yr. Should I come out of retirement?

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Lowlim
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Got a job offer for $840k/yr. Should I come out of retirement?

Post by Lowlim »

I'm struggling with whether or not to come out of retirement and would love to get some feedback from fellow Bogleheads.

Background
I retired in 2018, when I was 35 year old, right before my 36th birthday. I'm now 38 and have a stock portfolio >$6 million. (98% broad market index funds, 2% cash, zero bonds, zero real estate) My yearly expenses are ~110k. I have no kids and pretty close to zero obligations. I've really enjoyed not working and have worked toward personal goals that I find more fulfilling than work. In the ~2.5 years since I retired, I overcame my fear of deep water by finally learning to swim and swam from Alcatraz to San Francisco, achieved personal records in power lifting, got 1st place in a local jujitsu tournament, and now have started horse back riding lessons in preparation for a Modern Pentathlon. I consider myself maybe the lowest skilled full time amateur athlete and loving every bit of it. I enjoy learning new things and want to test myself physically while I'm still young enough to do it. When the pandemic is over, I plan to travel and perhaps even live aboard if I find a new place that I enjoy.

Back in 2018, my decision to retire was based on an idea that my personal time is valuable to me. I arbitrarily came up with $500 to $1,000 per hour. Basically a minimum of $1 million per year. Since I didn't have a job opportunity that would pay me that much, the decision to retire was easy. However, a few weeks ago, an old colleague contacted me an told me that he was advising a company that could really use my help. (My expertise is performance marketing for tech companies.) I offered my services for a few weeks at my arbitrarily rate. To my surprise, the company accepted my proposal. (I ended up doing 92 hours of work for $50k) That contract has now come to an end and the company has been very happy with the service that I provided and want me to continue. After some back and forth, they offered me a contract of $70k per month, so an annualized $840k per year. This would be 100% remote, so I would able to work from home or even travel freely.

Should I take it? Maybe keep negotiating and only take it if I can get $1 million/year? I don't [think] I need the money because my expenses are well under 2% of my portfolio value. (Please let me know if you think I do need the money) Even after a 2.5 year break, I'm burned out from my previous career and would really have to grit my teeth to get back into doing it full time. Even the initial few week contract was a strain for me emotionally. (I've struggled with mental health in the past and having a stressful job doesn't help.) To be blunt, I'm highly skilled at my profession, but just don't want to do it anymore. In the past 2.5 years, since initially retiring, I've been the happiest and most stress free I've ever been. I was truly hoping that the company wouldn't offer anything close what I would consider taking. But now that they have, I wonder if I'm being foolish by not accepting it or at least trying to negotiate for more.

Would love to hear opinions from my fellow Bogleheads. Any suggestions on how I should approach this decision would be appreciated.
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8foot7
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by 8foot7 »

$6 million buys you the right to say no to things you don't want to do except following the law. While 70k/month is a large amount of money, what is its marginal utility for you? What will it enable you to do that you cannot now? Is whatever it is that 70k month will enable you to do worth giving up the freedom you now enjoy?

Also consider you will pay through the nose in taxes on that kind of income, perhaps unless (but probably even if) you set up some kind of money purchase/defined benefit plan, but all that would do is serve to further enrich your future self (a self which likely needs no further monetary enrichment with 6 million in principal already working for you at 38) at the expense of your current endeavors.

It sounds like you want to declare Enough. I encourage you to.
Last edited by 8foot7 on Tue Jan 12, 2021 8:35 pm, edited 2 times in total.
muffins14
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by muffins14 »

Why not do it for 3 months and see how you feel?

You can renegotiate after month 3 if you really want to keep doing it

Otherwise, I'm sure more humblebragging can be a satisfying way to spend the time
MindBogler
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by MindBogler »

Only you can answer this question.
jarjarM
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by jarjarM »

If you have enough, then continue to enjoy your retirement. Only you can decide if you have enough or not. Remember, money is just a mean to an end. Though depending on if you decide to have a family or not, that could change the equation. SF bayarea (sounds like that's where you reside), can be an expensive place to raise kid in. Congrats on your success :beer
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ReformedSpender
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by ReformedSpender »

No real advice other than the choice will ultimately come down to you.

Congrats on winning the game!
:beer
Market history shows that when there's economic blue sky, future returns are low, and when the economy is on the skids, future returns are high. The best fishing is done in the most stormy waters.
Freefun
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Freefun »

You don’t seem to want or need the money and given the joy you’re getting from everyday life and activities, I don’t think it’s a good idea.
Remember when you wanted what you currently have?
Topic Author
Lowlim
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Lowlim »

8foot7 wrote: Tue Jan 12, 2021 8:32 pm $6 million buys you the right to say no to things you don't want to do except following the law. While 70k/month is a large amount of money, what is its marginal utility for you? What will it enable you to do that you cannot now? Is whatever it is that 70k month will enable you to do worth giving up the freedom you now enjoy?
The extra money it would just be invested in the same broad market Vanguard index funds as the rest of my portfolio. I wouldn't change my spending at all. It would help reduce risk of ruin, but (I think) my current risk is low due to spending less than 2% of my portfolio per year. If I don't take this job, and something catastrophic and unforeseen happens in the future, I might regret not making the extra money.
yohac
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by yohac »

Lowlim wrote: Tue Jan 12, 2021 8:40 pm If I don't take this job, and something catastrophic and unforeseen happens in the future, I might regret not making the extra money.
If that's the standard, no one would ever voluntarily retire. Given your situation, I wouldn't even consider taking on such stress.
DJZ
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by DJZ »

It might allow you to donate more to support some of your interests/causes.
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WarAdmiral
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by WarAdmiral »

Lowlim wrote: Tue Jan 12, 2021 8:29 pm (My expertise is performance marketing for tech companies.)
What is performance marketing ? :beer
gator15
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by gator15 »

If I had $6 million at your age with your expenses I would stay retired. As someone else mentioned, the taxes you would pay on $840k could be substantial. That would be a deterrent for me. Let’s say you work a couple of years and save an additional $1 million. What can you do with $7 million that you can’t do with $6 million? Stay retired. Congrats on your success!
systemr
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by systemr »

Congrats on hitting those numbers, huge! How are you filling your days? I am also the same age and similar magnitude portfolio but in highly concentrated positions due to it mostly being sweat equity.

I've always taken time off between startups (ranging from 6 months to a year) but always got bored as you can only travel so much and likley most of your friends aren't working. Super curious how your time breaks down?
ddurrett896
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by ddurrett896 »

Why work if your don’t need the money? Go have fun :sharebeer
theplayer11
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by theplayer11 »

you already answered your question
Topic Author
Lowlim
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Lowlim »

8foot7 wrote: Tue Jan 12, 2021 8:32 pm It sounds like you want to declare Enough. I encourage you to.
Thank you for that comment.

Earlier in my career, I decided that ~$2.5 million was "Enough" for me because I my expenses were $100k and was happy with a 4% rule. But once I got to it, the number just kept moving. For some reason, I keep thinking that I'll feel "wealthy" once I have about 2x of whatever I have at the given time.

Side note, around 2013, I passed on a job opportunity with a hot new Silicon Valley startup. The person that ultimately took the position I was offered ended up cashing out huge when the company went public. Since the information of top share holders was made public, I know that this person got shares worth around $40 million. I get a sick feeling deep in my stomach every time I think about this.
Keenobserver
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Keenobserver »

Curious as what your actual job entails and what kind of skills are you offering. . What kind of career trajectory/ hx allowed you to retire so young? Sorry for not being so helpful. My simple conclusion is that you seem to be living a full life and I would do whatever I can to continue living that life. More money at expense of stress and health issues when you already have enough to live out your whole life seems counterintuitive. Now if you said you found a role that completed you or made you feel like you were changing lives, my answer might hsve be different.
Last edited by Keenobserver on Tue Jan 12, 2021 9:02 pm, edited 1 time in total.
Johnny Thinwallet
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Johnny Thinwallet »

Lowlim wrote: Tue Jan 12, 2021 8:29 pm Even after a 2.5 year break, I'm burned out from my previous career and would really have to grit my teeth to get back into doing it full time. Even the initial few week contract was a strain for me emotionally. (I've struggled with mental health in the past and having a stressful job doesn't help.) To be blunt, I'm highly skilled at my profession, but just don't want to do it anymore. In the past 2.5 years, since initially retiring, I've been the happiest and most stress free I've ever been.
In addition to your $6 million portfolio and current spend rate, this is the most important part of your post that I quoted above.

I can't tell you what you think you should do - only you can do that. But I might suggest you re-read your own words a few times that I quoted above. That might give you some insight as to what you should do.

Congrats on all your success!

If I were in your shoes, I'd be done working and that would be that. :)
bltn
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by bltn »

Is there any way to modify the job so that you don t hate it so much? If you can do that, then ask them for 80,000/month for a one year contract. That s close to the million you wanted. If you ve done well for the company after one year, you may be able to negotiate something better in terms of money, or part time work.
If I had that earning potential in my mid 30 s, I would have a hard time not taking advantage of it, at least for a short while..This would give me the opportunity to spend more later in life. I would try to identify the source of my job stress and try to change that with my contract negotiation.

Of course , if you re finished with your career, you have plenty to live your current lifestyle. Maybe increase you spending a bit to 3% annually, including taxes. But you may not get the opportunity to make this kind of money again. At least, that's the way I would look at this opportunity.

If you can t negotiate a good deal in terms of a less stressful set of job conditions, maybe the opportunity is not that great for you.
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Picasso
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Picasso »

muffins14 wrote: Tue Jan 12, 2021 8:35 pm Why not do it for 3 months and see how you feel?

You can renegotiate after month 3 if you really want to keep doing it

Otherwise, I'm sure more humblebragging can be a satisfying way to spend the time
Every line in this response is accurate, reasonable, and has a purpose
runner3081
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by runner3081 »

muffins14 wrote: Tue Jan 12, 2021 8:35 pm Otherwise, I'm sure more humblebragging can be a satisfying way to spend the time
+500
an_asker
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by an_asker »

Referring to the thread on regrets after retirement, I learned that folks retire when they have enough. Whether you have enough or not is your decision!
Topic Author
Lowlim
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Lowlim »

systemr wrote: Tue Jan 12, 2021 8:55 pm Congrats on hitting those numbers, huge! How are you filling your days? I am also the same age and similar magnitude portfolio but in highly concentrated positions due to it mostly being sweat equity.

I've always taken time off between startups (ranging from 6 months to a year) but always got bored as you can only travel so much and likley most of your friends aren't working. Super curious how your time breaks down?
I'm happy to hear from someone in a similar situation.

I've struggled with this and it was one of the first things I tried to answer after retiring. see post: Retired at 35 and have no friends :( viewtopic.php?f=11&t=283299&p=4591396#p4591396

Like I mentioned in the original post, I've learned to swim, have a regular power-lifting schedule, train Jiu Jitsu, and am now learning how to ride a horse in preparation for a Modern Pentathlon. This ends up being pretty much full time. Example, yesterday, I started the day with a 2 hour power-lifting workout from 9am to 11am, got a horse back riding lesson from 2pm to 3pm, and then a Jiu Jitsu class from 7pm to 8:30pm. Some of the in-between time is filled up with meals and traveling to the different activities. I also enjoy staying up to date on new and current events, so when I have a bit of downtime, I'll browse the internet while streaming a news broadcast. I also listen to books when I driving to the different activities.

How does your time break down?
an_asker
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by an_asker »

WarAdmiral wrote: Tue Jan 12, 2021 8:50 pm
Lowlim wrote: Tue Jan 12, 2021 8:29 pm (My expertise is performance marketing for tech companies.)
What is performance marketing ? :beer
Looks like you didn't read the OP in its entirety ;-)
Silk McCue
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Silk McCue »

No you shouldn’t come out of retirement for all the reasons you listed.

Either enough is enough or it isn’t. If you take the job you will have far less than what you have today. The “far less” isn’t measured in dollars in this equation and no amount of money will make it more.

Cheers
an_asker
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by an_asker »

jarjarM wrote: Tue Jan 12, 2021 8:36 pm If you have enough, then continue to enjoy your retirement. Only you can decide if you have enough or not.[...]
Didn't realize that my answer was just echoing someone else!! :sharebeer
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market timer
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by market timer »

Sent you a message.
veindoc
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by veindoc »

Lowlim wrote: Tue Jan 12, 2021 8:59 pm
8foot7 wrote: Tue Jan 12, 2021 8:32 pm It sounds like you want to declare Enough. I encourage you to.
Thank you for that comment.

Earlier in my career, I decided that ~$2.5 million was "Enough" for me because I my expenses were $100k and was happy with a 4% rule. But once I got to it, the number just kept moving. For some reason, I keep thinking that I'll feel "wealthy" once I have about 2x of whatever I have at the given time.

Side note, around 2013, I passed on a job opportunity with a hot new Silicon Valley startup. The person that ultimately took the position I was offered ended up cashing out huge when the company went public. Since the information of top share holders was made public, I know that this person got shares worth around $40 million. I get a sick feeling deep in my stomach every time I think about this.
To me, there is not much difference between 6 million and 40 million, when you only spend $110,000/year. Both are in the same category: enough.
jarjarM
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by jarjarM »

an_asker wrote: Tue Jan 12, 2021 9:18 pm
jarjarM wrote: Tue Jan 12, 2021 8:36 pm If you have enough, then continue to enjoy your retirement. Only you can decide if you have enough or not.[...]
Didn't realize that my answer was just echoing someone else!! :sharebeer
:sharebeer
systemr
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by systemr »

Lowlim wrote: Tue Jan 12, 2021 9:15 pm I'm happy to hear from someone in a similar situation.

I've struggled with this and it was one of the first things I tried to answer after retiring. see post: Retired at 35 and have no friends :( viewtopic.php?f=11&t=283299&p=4591396#p4591396

Like I mentioned in the original post, I've learned to swim, have a regular power-lifting schedule, train Jiu Jitsu, and am now learning how to ride a horse in preparation for a Modern Pentathlon. This ends up being pretty much full time. Example, yesterday, I started the day with a 2 hour power-lifting workout from 9am to 11am, got a horse back riding lesson from 2pm to 3pm, and then a Jiu Jitsu class from 7pm to 8:30pm. Some of the in-between time is filled up with meals and traveling to the different activities. I also enjoy staying up to date on new and current events, so when I have a bit of downtime, I'll browse the internet while streaming a news broadcast. I also listen to books when I driving to the different activities.

How does your time break down?
Your days are much more structured than mine where. I read a lot, rode my bike a lot (4K mi one year), took my car to the race track frequently, started cooking more and traveled a ton internationally. Middle of last year I got bored and went back to work for a friend at about 1/2 the TC you mention but with the benefits of a FTE, honestly I do it for the social interaction and to have more structure to my day and it's a super easy job I'm a product manager and realistically only work like 2-3 hours a day and am 100% remote even after COVID ends.

PS: Don't feel bad about missing out on that one startup, I lost out on > $20MM by quitting a job at one of those hot startups... Also all these guys just killing it on Tesla tells you how much of financial outcomes are luck.
Last edited by systemr on Tue Jan 12, 2021 9:26 pm, edited 1 time in total.
Topic Author
Lowlim
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Lowlim »

WarAdmiral wrote: Tue Jan 12, 2021 8:50 pm
Lowlim wrote: Tue Jan 12, 2021 8:29 pm (My expertise is performance marketing for tech companies.)
What is performance marketing ? :beer
Using online marketing to drive customers, sales, new users, etc. to a business. It's also known as Demand Generation. Essentially, it directly drives revenue for the company, which is why companies are willing to pay relatively high for the expertise.

The specific form that I did is called "paid marketing." I would buy ad space online. When a user clicks on the ad, they are taken to the company's website so that they can buy something, become a new user, or something similar. I always thought of it like gambling. You are spending money on ads with the goal of those ads generating more money than you spent. My original background is actually not marketing at all. I'm a gambler that only gambles when I find a statistical edge in my favor.
Last edited by Lowlim on Tue Jan 12, 2021 9:27 pm, edited 2 times in total.
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geerhardusvos
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by geerhardusvos »

Lowlim wrote: Tue Jan 12, 2021 9:15 pm I've struggled with this and it was one of the first things I tried to answer after retiring. see post: Retired at 35 and have no friends :( viewtopic.php?f=11&t=283299&p=4591396#p4591396

Like I mentioned in the original post, I've learned to swim, have a regular power-lifting schedule, train Jiu Jitsu, and am now learning how to ride a horse in preparation for a Modern Pentathlon. This ends up being pretty much full time.
Don’t take this the wrong way, but I wouldn’t trade my family and friends for $6 million (or any amount of money), and it seems like maybe you did. You should invest in relationships and giving back. Community is really important, and loving bonds (no not vbtlx) are essential to flourishing.

While others have some investing catching up to do, you might have some personal and other stuff to catch up on. And that might be hard to do at your age, but it’s never too late. Your life honestly sounds miserable, it almost sounds like what people do in prison. Just calling a spade a spade. Obviously wish you the best. I do not agree with others that you have won the game. You have only won one aspect of the game, and to be honest, the money aspect is the least important part.
VTSAX and chill
tomsense76
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by tomsense76 »

So it sounds like money is no object. There may be some other benefits though working with a team, having a common goal, and also bluntly the job benefits themselves (having someone else cover health insurance especially during the pandemic might be nice :wink:), etc.

The real question is, do you want to do the job? It sounds like it has been going ok so far. Do you like the people you are working with? How do you feel about the kinds of work you are doing? Other thoughts?

I know you said you didn't like your old job which was in a similar role. Do you recall why you didn't like it? Was it some aspects of the work itself, the people, something else? If it is the part of the work itself, is there a possibility to negotiate the roll to avoid the aspects of work that you don't want to own? If it was something else, it would be worth investigating to what extent that can be mitigated.

Personally I work remotely and feel I'm compensated well. I traveled while working remotely before the pandemic. To me (though I haven't really been retired) it combined the benefits of what I would like to do in retirement (travel more) with a job and coworkers I like. It's worth considering :happy

Good luck with your decision! :beer
an_asker
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by an_asker »

geerhardusvos wrote: Tue Jan 12, 2021 9:25 pm [...]
Don’t take this the wrong way, but I wouldn’t trade my family and friends for $6 million (or any amount of money), and it seems like maybe you did. You should invest in relationships and giving back. Community is really important, and loving bonds (no not vbtlx) are essential to flourishing.

While others have some investing catching up to do, you might have some personal and other stuff to catch up on. And that might be hard to do at your age, but it’s never too late. Your life honestly sounds miserable, it almost sounds like what people do in prison. Just calling a spade a spade. Obviously wish you the best. I do not agree with others that you have won the game. You have only won one aspect of the game, and to be honest, the money aspect is the least important part.
I disagree that OP's life sounds miserable. Every one of us has, at some point or the other, felt envious about someone else's success - especially if that success is from a job that we refused, or if that success is for a parallel job with a different employer/geographical location. I don't think that means OP's life is miserable, just that OP - in spite of earning what's probably a 0.01% salary - is just like any other human.

I agree about OP probably not having won the game (of life). But - and this is a big but - my answer (and those from others as well) focused on the question at hand. Should the OP go back to work to boost his bank balance? Our collective answer, I believe, is that this is entirely OP's call.

I followed a blog, the 2millionblog, where the blogger publicly noted his "number" as being $2 million. Well, he was still blogging into the $2.5 million range - and still working. So, obviously the goalposts moved. How far? That answer I have no clue as the blogger has stopped updating the blog since he got to ~ $2.5 million. Whether he is still working or not, your guess is as good as mine.
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Lowlim
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Lowlim »

geerhardusvos wrote: Tue Jan 12, 2021 9:25 pm
Lowlim wrote: Tue Jan 12, 2021 9:15 pm I've struggled with this and it was one of the first things I tried to answer after retiring. see post: Retired at 35 and have no friends :( viewtopic.php?f=11&t=283299&p=4591396#p4591396

Like I mentioned in the original post, I've learned to swim, have a regular power-lifting schedule, train Jiu Jitsu, and am now learning how to ride a horse in preparation for a Modern Pentathlon. This ends up being pretty much full time.
Don’t take this the wrong way, but I wouldn’t trade my family and friends for $6 million (or any amount of money), and it seems like maybe you did. You should invest in relationships and giving back. Community is really important, and loving bonds (no not vbtlx) are essential to flourishing.

While others have some investing catching up to do, you might have some personal and other stuff to catch up on. And that might be hard to do at your age, but it’s never too late. Your life honestly sounds miserable, it almost sounds like what people do in prison. Just calling a spade a spade. Obviously wish you the best. I do not agree with others that you have won the game. You have only won one aspect of the game, and to be honest, the money aspect is the least important part.
No offense taken. I appreciate your viewpoint.

As an aside: I didn't make a ton of friends during the 13 years I put most of my mental energy into work, but I think that the friends that I did make have been meaningful. This is evidenced by me being the best man at three different friend's weddings. At my own wedding, I decided not to declare a best man, partially because I didn't want to disappoint any of the friends that had previously declared me as their best man.
crinkles2
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by crinkles2 »

In 50 years would you look back and see the taking of the opportunity as having made a difference (for the better) to the world?

if you arbitrarily value your time as $1.0m annual income I'd say the accuracy of the arbitrary valuation should be considered relative to the $0.86m paycheck. If you withdraw say 4% x > $6m portfolio then your annual 'worth' for not taking a paycheck is >$240k? So financially you'd be better off taking the job naturally, one can't really value your past-times financially, however positive. More a gut feel of it would take $X to make me work again.

I think the value you can contribute to society should also be weighed more heavily. Without knowing what you do I couldn't say. If it will make other people poorer then personally I wouldn't do it; If it can improve lives then of course...

edited to add: also consider health costs, if you suffer mentally and physically for it, you have won the game and don't need it.
Texanbybirth
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Texanbybirth »

Is it possible to do work like this part-time? (I’m sorry I don’t know much about your expertise.) If this is sticking in your craw, do it. From my perspective (as a 35 yo married dude with 4 tiny children who is jealous of your $$$), you’ve got the wealth to do something like this and decide in two months you don’t want to do it anymore. At that point you’ll still have made about a year’s worth of expenses!

Also, I don’t think you’re at all too old to make friends and stuff like that, even in retirement. You’ve got a wife, so that’s great. What does she think about you taking this job? And best man three times is also great. You’re tied with me and I’m a poor schmuck! Three friends of that seeming closeness is enough relationship for me to maintain on a good day!
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
Katietsu
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Katietsu »

You mentioned mental health struggles. Do you have a therapist you could talk with about this? The money does not seem to be the most important part of this decision. Though, isn’t your latest sport more expensive than could be paid for as part of your $110,000 annual spend?
Thesaints
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Thesaints »

How much of those 840k are taxed as income ?
Maybe you should accept the offer and see how it goes. You can always re-retire at any time.
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Hookem_1
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Hookem_1 »

It’s really not about the money at this point. If you really enjoy the work then do it for a couple of years. There is no downside here.
TravelGeek
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by TravelGeek »

Considering that I am currently limited in what I can do (can’t travel, go to the gym, it’s winter, ...), and since I expect the current situation to continue for a while, I would probably use that offer to make lemonade out of lemons.

I am FIREd and have “enough” (so do you), but that doesn’t mean that I wouldn’t be willing to do some work again (for a limited period of time) if it paid enough to make it worth it. $840k (minus taxes) would be a nice boost for my travel budget for the next decade.

But reading some of your later posts, you don’t seem to have downtime and/or are happy with what you are doing.
Last edited by TravelGeek on Tue Jan 12, 2021 10:14 pm, edited 1 time in total.
Carousel
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Carousel »

1 Your annual spend is covered by the income off that big portfolio.
2 You spend your time productively.
3 You are the happiest and most stress-free you've ever been.
>> Don't take the job you don't want to take. Stay where you are.

4 You kept ratcheting up your "enough" number. You always wanted 2x what you had.
5 You feel sick when you think about the other guy making $40 mill off a job you could have had.
(& some would add #6: you've thrown up a post with details of extraordinary financial, career, and athletic success. I enjoyed your post, but someone here referred to it as a humblebrag.)
>> Work to change your attitude. Ever heard this story?

"At a party given by a billionaire on Shelter Island, Kurt Vonnegut informs his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history.
Heller responds,“Yes, but I have something he will never have — ENOUGH.”

>> Work on feeling like you have "enough." It's the final piece of the Happy Pie!

(Also, in the Steve Jobs/doyouwannasellsugarwaterforever line of argument: if you want a thrilling new job, you could aim for something other than digital marketing.)
Shorty
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by Shorty »

Do you have everything you want at $110k/yr now? There are surely legitimate business expenses to offset the contracting tax burden. For example, you might value a high end computer setup or work travel that you wouldn’t come out of pocket for at $110k. Not sure this gets you anywhere near $70k/mo unless you need your own datacenter, command post, chartered flights or something.

I’d see if it’s workable part time at your convenience. Not a bad problem to have. :sharebeer
aqan
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by aqan »

WarAdmiral wrote: Tue Jan 12, 2021 8:50 pm
Lowlim wrote: Tue Jan 12, 2021 8:29 pm (My expertise is performance marketing for tech companies.)
What is performance marketing ? :beer
I need to know.
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celia
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by celia »

Why don't you turn it down and re-consider if a future (better) offer comes along in a few years. You might feel better about it at that time.

By the way, $70K in a month is $400/hr assuming you don't work overtime, which you probably did, just by thinking about the project, even when not on the clock.
bugleheadd
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by bugleheadd »

whats that 840k a year after taxes? like 500k?
RyeBourbon
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by RyeBourbon »

Lowlim wrote: Tue Jan 12, 2021 8:29 pm I'm struggling with whether or not to come out of retirement and would love to get some feedback from fellow Bogleheads.

Background
I retired in 2018, when I was 35 year old, right before my 36th birthday. I'm now 38 and have a stock portfolio >$6 million. (98% broad market index funds, 2% cash, zero bonds, zero real estate) My yearly expenses are ~110k. I have no kids and pretty close to zero obligations. I've really enjoyed not working and have worked toward personal goals that I find more fulfilling than work. In the ~2.5 years since I retired, I overcame my fear of deep water by finally learning to swim and swam from Alcatraz to San Francisco, achieved personal records in power lifting, got 1st place in a local jujitsu tournament, and now have started horse back riding lessons
I got that far and felt a tugging on my leg
BogleFan510
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by BogleFan510 »

Since it sounds like you enjoy it, I say go for it until vaccines make travel an option again. I dont think those opportunities will always be there, especially as some tech matures, and remote work as the norm evens out pay to more global levels.
KyleAAA
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by KyleAAA »

I'd probably take the job.
CascadiaSoonish
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Re: Got a job offer for $840k/yr. Should I come out of retirement?

Post by CascadiaSoonish »

Lowlim wrote: Tue Jan 12, 2021 8:29 pm In the ~2.5 years since I retired, I overcame my fear of deep water by finally learning to swim and swam from Alcatraz to San Francisco, achieved personal records in power lifting, got 1st place in a local jujitsu tournament, and now have started horse back riding lessons in preparation for a Modern Pentathlon.
I wonder if the underlying question here isn't more about the ability for people to slow down at some point. Not every moment needs to be measurably beneficial to some particular goal, whether it's putting more money in the bank or running a faster mile or outswimming the sharks in the Bay or what have you. This isn't a critique of OP, I think it's something that all driven people struggle with when we've been programmed to compete and win for decades.

At some point, what's one more trophy in the trophy case?
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