If you were paid twice as much as you currently are to do your current job, would you work that job all the way up to retirement in your 50s or 60s? (whether you’re currently a cashier, nurse, doctor, mechanic or teacher, etc.)
You’d still be eligible for small annual raises.
Also, what would you do with the extra money? Save, spend, pay off debt, buy a house, travel the world, donate?
I currently make six figures and would be happy enough in my current job to work it until retirement, so giving me twice the money to continue doing something I enjoy is a no-brainer.
I don’t know.
Right now, I’m kinda mad at my job-- or really, my employer. Twice as much money would be nice, but with thirty years till retirement . . . I’m not sure it’s enough.
I work retail for a MegaCorp, and bad things have been happening around me lately.
Not like major bad things, but bad enough to make people unhappy.
5 years to retirement after 27 years as a teacher and you want to double my salary (and retirement!) if I continue doing what I love?
Deal!!
What extra money? Trust me, there won’t be any.
Sure. I’m 51. I’d like to retire early, not wait until age 67. Double my pay, I’ll bank the extra, after throwing as much as possible into my pre-tax retirement plan.
Something like this.
I as going to comment about retiring early, but I see the OP called for 50s or 60s.
Of course, by then my company will have gone public, I’ll be a multi-millionaire, and the salary won’t have mattered much anyway.
…as long as I’m dreaming…
I have a decent salary, and I enjoy my job, so I’d say hell yeah! Frankly, I’m hoping to stick around until retirement anyway (even though that is many decades away) . . . I love my company.
I suppose I’d only say no if I was currently working a low-pay job, where the doubling of my salary wouldn’t make much of a difference.
I work in a low-pay job and doubling my salary would make a huge difference. Rent + groceries is currently 75% of my pay, after doubling it’d be around 40% (since I’d use a bit more on groceries) which would leave me almost five times more money on other stuff. Hell, I’d be able to buy my own apartment in a few years like that.
Nope.
I’d work for a year, save the other half above and beyond my current expenses and savings, and get the fuck out. I don’t mind the actual job, but most of the bs around it is shitty, and the hours suck rancid camel balls. Beside the other problems, I’ve got nowhere to go in this job. It’s not a career, it’s something that pays. There’s no chance for advancement, or skill acquisition, or ongoing education, etc. Because I work 6 days a week, I can’t even go back to school in my “off” time to be able to get a different degree and make myself more employable for another field. Since I’ve got a family, I can’t just quit and try to wing it.
So no. I’d be out of here as soon as I’d saved enough.
No way.
Hell yeah. I’m lucky in that my job isn’t particularly well defined or understood, which means I can do a lot of picking and choosing to work on stuff that interests me. I’d happily stay here another 15 years and retire at 55.
Pay me double to do what I’m currently doing? Hell yeah. Early retirement here I come.
I’m a lazy fuck. My workday has devolved to 5 hours mostly because I’ve worked at earning efficiently. Over the years, the more I have made per hour, the fewer hours I’ve worked (beginning with a 12 to 14 hour day).
So, no.
Hey, anything that allows me to add strippers and blow to my retirement plan is OK by me.
I chose no, not because I don’t like my job, but because I cannot fathom living in the place I live for the rest of my life.
If you can keep the same job type and just move locations, yes, possibly, depending on location.
I like my job, and I can live here a few more years, but the idea of being here forever and ever scares me.
I like my job so much that I’d continue working at it until retirement even if I didn’t get more money.
If you hope to retire early, you may want to review where you’re putting your retirement funds. Tax-advantaged stuff won’t be accessible (without penalty) until you reach a certain age, so to retire early you’ll need to pull on funds that you have in non-tax-advantaged investments.
My job is not horrible, but it’s not what I live for. Wife and I are in our mid-40’s and living well, but at the same time we’re stuffing a ton of money into retirement investments (401K, TSP, etc.). A couple of weeks ago I realized that our workplace retirement accounts are now large enough that if we stop contributing, then by the time we reach age 65 they will have grown enough to meet our nest egg target. That means I can redirect our future savings into non-retirement investments, which we’ll be able to spend at any time without penalty - allowing us to retire early.
If you double my salary, I’ll retire really early. I hope to travel a fair bit in retirement. Financial resources would determine how often, and whether we travel on a shoestring budget or fly first-class; our hope is for the latter.
Getting paid twice as much would really change my life. I graduated college three years ago with significant student loan debt and current devote half my paycheck to paying them. This would give me the opportunity to pay off my loans in half the time. So if the conditions were to stay in my job until retirement and get paid twice as much, I would seriously consider the offer even though retirement is many years away. I want to be free of Sallie Mae that much.
Yes absolutely. I don’t particularly love my job, but it’s not difficult and I already make more than I need. I’d buy more guitars and motorcycles, and retire early.