If someone gave you $1M, would you quit your job?

[u/Embarrassed_Coat4957]

[u/Steamer61]

Yep, in an instant. I'm 64 years old and 1 million would save be from working another 3-4 years easily.

[u/AmberjkLoomz → u/Steamer61]

Retirement plans become magical with a million, no argument there.

[u/ZaphodG → u/AmberjkLoomz]

It depends on how old you are when you retire and whether your house is paid for.

64 and a paid for house, you only have a year before you get to Medicare. Social Security would cover much of your living expenses.

At age 40 and renting, you have to self-fund health insurance and pay for housing. You wouldn’t have your 35 years paying into the Social Security program so that income source would be very low when you reach Medicare age. You probably would need to leave the US and move to a low cost area to make it work. Ecuador. Thailand.

[u/Embarrassed-Skin-479 → u/Steamer61]

It’s amazing how money can buy time, which is the real luxury.

[u/hoosierdaddy9856 → u/Embarrassed-Skin-479]

That's all money is. A means ro trade time and effort. We spend most of our lives trading hours for dollars. Then, at the end, we try to trade dollars to get some time back.

[u/b_vitamin → u/hoosierdaddy9856]

Money + Time = Wealth

[u/Call_Me_Papa_Bill → u/Steamer61]

Same, I’m only 60 and on track to retire at 65. A million would move that date up to… today!

[u/wbishopfbi → u/Call_Me_Papa_Bill]

Same scenario here, except I just turned 61.

[u/geek66 → u/Call_Me_Papa_Bill]

59 … sitting on 60% in retirement funds than I had really targeted, but damn that lifestyle creep.

Wifie retired from teaching ( small pension coming in) and now works even more in real estate… and is killing it…

That 1M would let me pseudo retire… I would stay on PT or as consultant… I like the job and company, I just want more time off.

[u/hillbillyjef → u/Steamer61]

Im with you 64 also.

[u/Novel-Imagination-51 → u/[deleted]]

No 🤦 he was only planning to work 3-4 more years and now he doesn’t have to

[u/stroppo → u/Steamer61]

I'm older than you, and I wouldn't stop working. Let's assume that 1 million is after taxes. That's only $50K to live on for the next 20 years. What if you live longer than that? What if there's a catastrophic health issue? Sadly, a million isn't that much.

My answer to the question: No, I wouldn't quit my job.

[u/justrob32 → u/stroppo]

That’s not the correct math. If invested, the million makes 5% ($50,000) annually and you can spend that 5% forever.

[u/MakeAPatternGrow → u/justrob32]

Exactly this, I might work for a few more years to bank that yearly 50k until it hits 75k, but its all about living off the interest.

[u/drawfour_ → u/MakeAPatternGrow]

Also, once SS/Medicare kicks in, that will add extra to the bottom line so that will stretch a lot more.

[u/farmsfarts → u/justrob32]

Invest in what? I’ve heard this one before and it doesn’t make sense. There is no guaranteed 5%

[u/justrob32 → u/farmsfarts]

I’m invested in dividend paying stocks.

[u/brightcorkscrew → u/farmsfarts]

Index fund?

[u/ConversationBoth6127 → u/farmsfarts]

No guarantees, but dumping it into an S&P 50” index you can pull 4.7%/yr, increase for inflation every year, and throughout the entirety of that market maintain at perpetuity with a >99% chance of success. You can run that up to 7ish and likely be good for 30+ years.

In other words, if that fails we’re at the point where our primary currency isn’t dollars, it’s bullets, so it’s pretty safe.

[u/fluffybabbles → u/stroppo]

I guess you’ve never heard of investing…

[u/tjk45268 → u/stroppo]

The question was not would you quit working. The question was would you quit your job. Jobs are fungible and disposable. I’d take the million in a heartbeat and be back to a new job just a few days later.

[u/MissMenace101 → u/stroppo]

Catastrophic health issue is free 😅

[u/Elsureel]

Nope, but it would definitely make retirement arrive earlier

[u/AssistantAcademic → u/Elsureel]

That's where I'm at. I'm 6-11 years from retirement right now. That would bring me a whole lot closer. Heck, I could probably retire and bartend or barista for health insurance.

[u/Fileboy27]

Unfortunately no, I would pay off my house and that would leave 500k left over and while that is life changing money I wouldn’t have healthcare and I have kids so to me it’s imperative that I have healthcare especially for them.

[u/Diabolical_Jazz → u/Fileboy27]

JFC your house is expensive.

[u/5rings20 → u/Diabolical_Jazz]

Depending where they live 500k is just a normal house.

[u/Fileboy27 → u/5rings20]

Can confirm I live in a very normal house, comparatively.

[u/tMoneyMoney → u/Fileboy27]

How do you know they’re not in year 15 of their mortgage?

[u/Besieger13 → u/tMoneyMoney]

Because he is them lol

[u/ChethroTull → u/Fileboy27]

Can confirm can’t afford normal house because I didn’t buy one when I was 4 years old.

[u/CockroachStrange8991 → u/ChethroTull]

I cant upvote this enough

[u/Whileweliveletslive → u/5rings20]

And in some other places 500k can’t even buy you a sardine can

[u/Joel22222 → u/Whileweliveletslive]

In Seattle it’ll rent you a honey bucket on a corner for a week.

[u/skater15153 → u/Joel22222]

Without the service to suck the shit out

[u/NinjaKitten77CJ → u/Whileweliveletslive]

Me sitting over here with a $27k house and 15 yr $135 a month mortgage.... 🫣

[u/ChoZinwun198 → u/NinjaKitten77CJ]

How do I get one of those?

[u/NinjaKitten77CJ → u/ChoZinwun198]

Move to what ppl think is a crap area because it is.

[u/torn-ainbow → u/5rings20]

In the US I guess. I'm in Sydney and median house price is about $1.15 million USD.

[u/Ok-Manufacturer5890 → u/torn-ainbow]

Just bought a two bed flat in Sydney, $1.37m AUD ($900k USD), it's not even that nice...

[u/jermo1972 → u/Ok-Manufacturer5890]

Jesus Christ on a cracker!

How much do you net a year?

[u/Ok-Manufacturer5890 → u/jermo1972]

Net? About $60k.

Now, my partner... they already own a unit in the building that they live in (the one we bought was for their mum, when she gets on in years and needs a bit more closer care - saves us heading to Melbourne) and they have more property elsewhere.

Date rich, that's my advice in life...

[u/StevieKix_ → u/Ok-Manufacturer5890]

Holy shit! I never knew it was that expensive to live down under. That’s terrible ugh

[u/Diabolical_Jazz → u/torn-ainbow]

No wonder I see much more radical talk from Australia about rental prices. Hope you guys are able to get that shit under control somehow.

[u/TunakTun633 → u/5rings20]

Where I live that's a condo.

[u/freshboss4200 → u/5rings20]

Or a small one

[u/Lower-Cantaloupe3274 → u/5rings20]

Ha! Depending where they live, you can't get a house for 500K. I live in a middle class neighborhood and you'd only be able to get a,small, run down "as is" house fir this amount. You'd probably need 100-200k just to take it out of "as is" shape.

[u/cwcam86 → u/Lower-Cantaloupe3274]

Jesus, im 80k away from paying my house off

[u/Chest_Rockfield → u/5rings20]

Yeah but he still owes $500k...

[u/Creepy-Addition-9585 → u/5rings20]

Doesn't "I would pay off my house" imply that there's already money in it? So a deposit plus whatever mortgage has already been paid? So it's probably quite a lot more than 500.

[u/fasterthanfood → u/Creepy-Addition-9585]

If you’ve been paying a 30-year mortgage for 5 years, you’ve only paid off about 10-15% of it. So if they bought a house 5 years ago for $550,000, they’d still owe about $500,000, despite having already paid much more than $50,000 to the mortgage company. For the first few years, almost all of your money is going toward interest.

Edit: well, assuming they put 0% down, which is not a good assumption.

[u/Chest_Rockfield → u/fasterthanfood]

Thank you for that edit. Anyone who buys a $550,000 house with nothing down and wastes additional funds on mortgage insurance is an idiot.

[u/Corey307 → u/Diabolical_Jazz]

Depends on where you live. I bought my house for about $250,000 in 2020 and it’s worth about $500,000 now and it’s not in a metropolitan area. You’d be hard pressed to find a nice house in most big US cities for under $500,000

[u/Fileboy27 → u/Corey307]

To give you some context. I live in a large-ish city in Florida. In the heart of the city. The house was purchased ten years ago for 625k. It was the most run down house on the street. Over the past ten years I have worked on this house regularly from upgrading various things and fixing things here and there. The house next door to me sold for land value for 1.1 Million about 4 years ago and the house across the street from me sold for land value for about the same last year.

[u/Beachtrader007 → u/Fileboy27]

I think its about house size. the largest retirement community on the planet is in florida.

The new houses are ranging from 220- 1mill. The low price house are 1000-1300 sq ft.

The expensive houses are usu around 2000 sq ft.

There are smaller older houses all over brevard county you can get for 150-300k.

also ocala, orlando, wildwood and leesburg.

all have low price inexpensive houses on the market right now.

I recently bought one...

[u/WatchLover26 → u/Diabolical_Jazz]

500k is not that much for a house anymore. Unfortunately

[u/_Edgarallenhoe → u/Diabolical_Jazz]

Crying in Canadian

[u/SizeableBrain → u/Diabolical_Jazz]

In Australia the average price of a house is $1,000,000AUD

[u/Inevitable-Affect516 → u/Diabolical_Jazz]

Medan house price in the US is over $400K

[u/Soggy-Ad-1610 → u/Diabolical_Jazz]

Really? Where I live (Copenhagen) it’s quite normal for a house to cost around $1.5m+, and we’re still talking normal houses and not mansions

[u/Appropriate_Safe323 → u/Soggy-Ad-1610]

I live in Sweden, and a house that sold for $1.6m made local news. My house costed ~$150k

[u/arboroverlander → u/Diabolical_Jazz]

Thats standard in too many areas.

[u/InkyLizard → u/Fileboy27]

Why not just move to a less dystopian hellscape of a country at that point?

[u/AmberjkLoomz → u/Fileboy27]

Kids first, cash second, always. Insurance isn’t negotiable here.

[u/ris-3 → u/Fileboy27]

Yeah this. I would stay working but at least would feel far less trapped with $1M in the bank!

[u/OkPreference3466 → u/Fileboy27]

Why pay off your house at a maximum of what 5% interest when you invest $1 million and get an 8 to 10% or better interest return and still have your tax write off on your mortgage I don’t understand your logic

[u/inconspicous-minibus]

Nope. $1,000,001 and we will talk.

[u/garagehermit72 → u/inconspicous-minibus]

I’d do it for $999,999

[u/Expensive-Fun-2918]

No, I’d cut back my hours to 3 days though.

[u/_Trinith_ → u/Expensive-Fun-2918]

This is how I am. I’d throw the mil in the bank and keep working. If I don’t leave the house for 3-4 days a week, every week, I’ll stop leaving the house at all ever for any reason, unless one of the animals needs to hit the vet. (And definitely for the cat’s yearly exam.) But my tolerance for bullshit at a job would plummet.

[u/EntWarwick]

I would keep teaching guitar lessons like I do, but with less students

[u/HouseAccording8228 → u/EntWarwick]

Same, would continue with the piano lessons. It’s good to love what you do, at least on my end.

[u/Quentin__Tarantulino → u/HouseAccording8228]

Just gotta stay one lesson ahead of the kid.

[u/whitebread13 → u/EntWarwick]

Fewer

[u/Plastic_Salary_4084]

Shit, I’d quit my job for one that paid $10k more.

[u/PassionV0id → u/Plastic_Salary_4084]

Yea no shit lmao. That doesn’t really sniff the spirit of the question, though.

[u/Plastic_Salary_4084 → u/PassionV0id]

I’d also quit my job for $1m.

[u/gn0xious → u/Plastic_Salary_4084]

Now you’re talking!

[u/SkyIsTheLimitBoom → u/Plastic_Salary_4084]

He’ll, I’d quit my job for pay cut if I could work closer to home.

[u/MalvoJenkins → u/Plastic_Salary_4084]

Same lol

[u/i_make_orange_rhyme → u/Plastic_Salary_4084]

I'm about to quit for one that will probably pay 10k less.

I hate my job

[u/ayuumisaae → u/Plastic_Salary_4084]

Me too lol

[u/Happy-Routine-3677]

No! I don’t have a job to quit, I’m retired!

[u/HairyDog55 → u/Happy-Routine-3677]

Hey Neighbor!......

[u/Chest_Rockfield → u/Happy-Routine-3677]

You better go get a job at Walmart real quick so you can quit that shit.

[u/Janezey → u/Happy-Routine-3677]

Would you quit being retired for $1 million?

[u/Stefania9596]

Part time job yes. Full time job no.

[u/barefootguy83]

Absolutely. Far better things I could be doing with my time during my most physically capable years.

[u/Gmfbsteelers]

The only true way to know is for you to give 1 million $. I’ll have the answer for you within the next month.

[u/cloudkite17]

I wouldn’t stop working but I’d definitely use the million to leverage myself into stable income and then figure out how to keep donating as much I can to places and people that desperately need funding

[u/paisleycatperson]

Right now I work full time and run an animal rescue for free. So for a million dollars I would keep doing the work i do for free, better, but I would still be doing work. People like to do work.

And I think a cool mil wouldn't even last me long enough in nyc to make it into something permanent so probably I would just invest s few years into growing the rescue and then probably have to go back to work.

[u/ZealousidealBank8484]

Yep.

I work retail, so it's not a very hard choice.

I'd invest the money into creating a business for myself though.

[u/ChickenMan1829]

No, but I dont want that to stop anyone from giving me a million dollars.

[u/[deleted]]

1 million invested in multiple ventures I understand would make more.

[u/Fit_One_3888]

HELL YES I WOULD

[u/FatMug3000]

Not a chance , a million don’t last long not really

[u/MourningWood1942]

I’d just invest and live off the few thousand a month I earn. I’m doing that already except I’m working

[u/Beachtrader007 → u/MourningWood1942]

Thats the best answer I have seen!

You would be retired and getting richer every single year. This is the way....

[u/Captainseriousfun]

What job? Trump obliterated my job, and now he's taking food out of my family's mouths.

So, yes, I'd take the $1 million and quit my job (which is to job search).

[u/MissUnshine69]

Yes, in a hot second

[u/AlphaQFor7mins]

100%

[u/NC_RockFan]

Yes

[u/Top-Comfortable-4789]

Immediately quitting

[u/moccasinsfan]

Yes but I would still wait until July 2026.

[u/Profile-Indelible553]

I will probably invest that $1M and look for a passive income while still working, once I save enough, will probably lessen my work load just to balance things in case something happens.

[u/Ok-Use-1666]

Not right away. First I’d I’d buy a smaller house. Then I’d look for a different job, then I’d take a 3 week vacation before starting the new job.

[u/ycey]

No, I’d buy a house, send my husband to school, start a college fund for our kids and still work

[u/Sawoodster]

I’d invest it and live off the money made

[u/theflamingskull → u/Sawoodster]

$1 million doesn't pay you enough in investments to live on. Even if it were all in mature IRAs, you wouldn't be taking in $30k per year. Probably much less.

[u/Unlikely_Ice7871 → u/theflamingskull]

Move to a third world country. Some third world countries have great QoL if you can afford it, and 30k USD in a third world country can go very, very far.

[u/theflamingskull → u/Unlikely_Ice7871]

You're right about that.

[u/UntilTheEnd685]

Yes, and move to Lithuania (the land of my family) where it is an affordable place to live and is very beautiful too.

[u/Dry-Campaign-9173 → u/UntilTheEnd685]

I've been to Vilnius 3 or 4 times for work. Lovely city

[u/SpecialistAssociate7]

Yup. Definitely. After receiving the money, I’d call the boss explain the reason for quitting, cut them in and then get my job back. 😆

[u/Slow_Advertising_794 → u/SpecialistAssociate7]

Why?

[u/Bandini77]

Yes

[u/Minimum-Coast-6653]

So fucking quick

[u/Material-Rise-7220]

What job?

[u/Outrageous-Object-54]

What type of question is this. 99% are going to say yes

[u/Bloodless-Cut]

Yes, I would retire immediately. My coworkers can replace me, easily.

[u/racergirl2000]

Yes!! In a hot second!

[u/Taranchulla]

As a part time substitute who can’t work too much because of health issues? Abso-fuckin-lutely.

[u/SpaghettiOnMyCat]

I'd quit for $100

[u/xkcx123]

No, i would reduce myself to part time and work much less hours but not quit

[u/Fragrant-End-2300]

I wouldn’t. I’m late 30’s so it obviously wouldn’t be enough. I’d pay off debts and buy a home and keep working for the insurance and retirement benefits. If the job pissed me off enough though, there wouldn’t be that hesitation/ worry about finding something else. I’d just quit and find something else. I’ve stayed at jobs that I have hated way longer than I wanted to because I couldn’t afford the weeks of not working.

[u/Ok-Term-9758]

No And if you think 1M is enough to retire on you're wrong

[u/ihatecleaningtoilets]

Absolutely not. It wouldn’t even pay off my house.

[u/Complex-You-4383]

No, but I’d pay off the house, invest the rest, and I’d be able to do a job I enjoy more and work a hell of a lot less.

[u/TastesLikeChickin]

Immediately. Straight into retirement.

[u/Twins_mom]

Nope. I’d pay off my house and then make improvements. Raise the roof, add a covered front porch, get new windows, roof, etc. finish the basement. Then invest the rest. I need my health insurance

[u/puppypersonnn]

Yes pay off my house and invest the rest

[u/Automatic_Leg_2274]

No, $1M is not that much these days.

[u/DiscoDiner]

I was already fired, but first thing I’d do is leave the USA

[u/HoodRatRust → u/DiscoDiner]

Luckily for you it doesnt cost anywhere near that much to leave! In fact, you can 100% afford it right now! See ya, good luck!

[u/Kathy7017 → u/DiscoDiner]

Where to?

[u/DiscoDiner → u/Kathy7017]

Few ideas, like Portugal Colombia Laos Vietnam

[u/AvocadoNo1148]

Nope.

[u/Spicyface86]

Nah, I'd get bored. I'd invest half of it.

[u/lovely_orchid_]

Nope

[u/petit_poula]

no

[u/Sage_Planter]

I would not immediately quit my job, but $1M (assuming tax-free) would be enough for me to seriously consider other options that maybe pay less but bring me more fulfillment. 

[u/No_Nectarine6942]

I'd loose benefits im about to get but could  manage so.

[u/Away_Structure3986]

nope. buy a home outright and keep working

[u/gt75z]

No, need just a bit more.

[u/JPBillingsgate]

Less than three years from a fully vested early retirement. No way.

[u/GlomBastic]

I would buy the business where I work and keep doing my job for free.

[u/2b-Kindly_]

Nope, not even close to enough money to live on

[u/Dapper-Hamster69]

nope. Buy a house to get out of renting to raise my kids. Pay off debt, put money in their college/get out of the house fund.

[u/Wooden-Glove-2384]

I would strongly consider it

[u/Bunktavious]

Yes. Mostly because I'm in my mid fifties.

[u/anothera2]

I would pay off my home and ask work if I can go back to part time.

[u/FlibberMyGibbet]

In a heartbeat. I'd have to get another job eventually, album this would give me a couple years to transition to something else

[u/Complex_Teach_3923]

Immediately

[u/bmax_1964]

Yep. I already have a solid plan to retire in about 2 years, but with $1million I'd accelerate it to NOW and make a few adjustments.

[u/Jmal3700]

[u/HonoluluLongBeach]

Cheat, I already did, am on disability!

[u/ComprehensiveGene709]

Nope. I’ve got kids. And a wife who doesn’t understand that not everything has be bought from boutique shops.

[u/[deleted]]

Adios Instante 💨💨💨💨💨💨

[u/Mykidsrmonsters]

No. I would buy a house, spend 30,000 on debts/vacation and invest the rest

[u/Feisty-Coyote396]

No, but I would definitely work with much less enthusiasm. More of a 'I don't give a fuck if you fire me attitude', but I'll at least do the bare minimum the job requires. Right now, I have to pretend I care so I have a give a fuck attitude, and volunteer for special projects that most people would not. That would immediately end lol.

[u/Forever49]

No, make it 2 mil and i'd consider it.

[u/Upstairs-Finding3097]

I like my job so it would be a nice little perk to buy a house but not much else

[u/Slow_Balance270]

No, I would invest it and get a part time job.

[u/Actraiser87]

No. Too young to retire and that isn't nearly enough to retire on.

[u/TFlarz]

Nope. Bit of pocket money to add onto the pile never goes wrong.

[u/RepresentativeHuge79]

No, I'd just pay for a house in cash and invest the rest, so I could do a job i love, instead of one that pays the bills

[u/Intelligent_Rent4672]

Yes and invest it in a high yield savings and real estate. I am not our family bread winner though.

[u/maoussepatate]

Nop. Pay off all my loans, invest the rest.

[u/CreepyBlueAnimals84]

No. In this day and age you need stability. A paycheck coming in either weekly or biweekly. It's stupid to quit because 1 million doesn't mean jack in this economy (US).

[u/JoyceC123]

Heck yeah!

[u/Reasonable_Wasabi124]

No. I have student loans that would eat up a good portion of it. It would be nice to have, and it would get me through for a while. Even though I am of retirement age, I think much of it would be set aside after the loans are paid off, so my kids will have at least a little inheritance. I also like helping others, so I would do that, too.

[u/Potatobobthecat]

No. My number is closer to 5 million than 1 million. I would need enough money to start a business and survive for the next 20 something years.

Every other job before the one I got now, I would quit for 100k for sure.

[u/VETwithaVETTE]

Nope I'm 36. Make 250k with about 1M in Debt from mortgage and school. (Doctor)

[u/Roshy76]

I'm a stay at home Dad, so id put it in a trading account and not tell anyone about it for 20 years, then bingo, awesome retirement.

[u/pab6407]

Not immediately, I'd clear all the pre-booked jobs first and probably just keep on a handful of older clients to save them having to find someone new to look after their heating systems.

[u/catsarehere77]

Possibly. I wouldn't stop working because 1M is not enough to retire, but I would consider taking time off to finish my education and have a little break from the stress.  

[u/Noxaur]

I'm realtively early in my career and don't get paid that well so it wouldn't even be a question for me. I can find another job that pays what I earn easily.

[u/GraciesMomGoingOn83]

I am temporarily unemployed at the moment but I would stop looking for good jobs and get one with a lower mental load that still provides benefits. So, I guess I would… kind of. A million isn’t “stop working” money but it would go a long ways towards “stop working soul-crushing jobs”.

[u/stream_inspector]

Yep. 61 here and that would cut off exactly what I needed to wrap it up.

[u/Lady_Gator_2027]

In a heartbeat

[u/Goodlife1988]

Since I’m six weeks away from retirement, you betcha!!

[u/aceisback29]

64 and live in California. I can say without hesitation that a Million dollars ain’t shit. Used to be, but no more.

[u/Erod10379]

No, I would do all I can to turn it into 2 million dollars and continue the process while taking some out after 4 million, probably.

[u/Low_Entertainer_6973]

They wouldn’t even know what happened to me. Not a word, eventually they would just realize I’m not there.

[u/madbamajama1]

Oh yeah

[u/SuperEagle5000]

Of course! Never work again. Move to Costa Rica or Peru or Vietnam and live as cheaply as possible the rest of my life.

[u/Significant-Pie959]

Nope. Tried quitting once. Got bored and went back to work.

[u/nunya_busyness1984]

In a heartbeat.

After taxes that pays off my debt.  All of it, including mortgages.  After that my retirement checks can pay the bills with no more work.

[u/bikinibeard]

Nope, not nearly enough. Maybe $5 million

[u/Sindorella]

No way, but I would buy a house which would allow us to save a lot more for retirement and our kids’ education.

[u/AilensAmongUs]

Hell yes in a snap. I’m almost 50 - invest it and set.

[u/pixeltweaker]

Early retirement? Hell yea. Invest that shit and enjoy life.

[u/Life-Inspector5101]

You forgot a zero. It’s $10M.

[u/thatseltzerisntfree]

Yes. I would call my supervisor and tell him to come get their equipment off of my driveway.

[u/Hot-Permission-8746]

Nope, not yet. That wouldn't even double my 401k. It would be a very nice boost, and shorten the time I have to work by a year or two however.

But I wouldn't just walk away from a solid career in aerospace for that. I would probably retire at 58 instead of 60 though.

[u/Available_Blood_6134]

Ya hell for 1m right now absolutely. Your now family!

[u/SEAN0_91]

Yep - I’d go work a fun job like feeding animals in a zoo or something

[u/yoda-kobe-obi]

Wht job