If you had a million pounds, would you carry on working?

[theveryveryhungrycaterpillar]

I know a lot of people will reply they love their jobs and would no matter how much money they have but if I’m honest I don’t enjoy mine at all (teaching, if that’s relevant!)

Interested to know.

Yes, I think I would continue working. My job is pretty low stress, WFH and I like the structure of the day/week that it gives me. It's also good exercise for my brain.

At this point in my life? In a heartbeat. I could retire quite happily on that. The work environment has changed monumentally and there are days I feel totally disconnected.

I would yes as I enjoy my job but I would absolutely be in support of my DH leaving his and taking another job with less stress, physical strain and unsociable hours.

well I'll need about £300k of that to move out of my flat and buy a house, so £700k to last me until retirement age is around £42k a year (not accounting for interest accrued but we'll count that towards the pension pot) which is what I get in take home pay a year at the moment, so yes, I would give up work!! I'd probably be bored but it would be nice to work doing something I enjoy that doesn't have to pay the bills.

I work for myself doing something I love so I’d carry on but I’d buy a shop and a workshop and expand massively. DH could retire which would be amazing.

Plenty of people are sitting on £1 million already via the rise in house prices, most of them still working.
One million is not the life-changing amount it once was.

Yes I’d work.

We have a £300k mortgage so would pay that off, and then £700k isn’t enough for a couple with two young children to retire on at 34.

If the question is “would I work if I didn’t financially have to” then the answer would be no. Or at least definitely not as much and not in my current role.

Yes but that’s tied up in property, so a bit different.

I have been doing some sums and the interest would yield me a net of £2200. Which is enough to live on without touching the core.

I will always work, I adore my work. It gives me a sense of purpose and achievement. It’s a huge part of who I am.

Would depend on a few things, how old I was, childrens ages, if it is total wealth or effectively money in the bank whilst I had a mortgage free home. If I was 50's with grown up children, more likely to be yes, if I was 30's with younger children I'd probably work part time.

I'd probably still try and do something, I think it is important to have some kind of purpose. That could be caring for children/grandchildren, elderly relatives, volunteering (even just a day or so a week). Also depending on age of children, I think it is a good example to set. But if I was in a job I hated, I would at the very least move to a role I enjoyed, whether that was setting up a business or a more vocational, fun, low paid job. If earnings don't need to be the primary goal, you could have more freedom of choice over where you work.

I agree if you have little kids, need to purchase a house and are planning school fees, that's not quite enough.

if you are, like me, more or less paid off in terms of mortgage and could live off the interest, then it's enough.

Either way, a million pounds would be life-changing for most people, given the average wage is mid-30k a year.

I wouldn't give up work though unless I could create a 'job' for myself, because I do need the purpose and structure, I'd also find no opportunities to socialise at all quite difficult, I only do two days a week face to face but that's very important to me.

£1 million nah. It's not enough to stop working several decades before I need to, and insure myself against the ramifications of that.

I'd be out of my current, corporate long hours with lots of stress, job before the ink dried on the cheque.

I do love my job but not the stress. I would like to keep working but just a few days per week, something more enjoyable and low stakes.

I don't think £1m would be enough to give up completely and live for the rest of my days - obviously this will depend, for individuals, on age, existing savings and family size. I know someone who won £1.5 million in their early 40s - gave up work, bought a nice house, had good holidays - and the money was gone in less than 10 years.

No. Two young adult children to help out!

Nope but with the mortgage paid we could easily both go part time in roles with much less stress and responsibility which is very appealing!
I’ve always said I’d spend half and save half, so £500k would clear the mortgage and renovate the house to a high standard but not much else.

People that adore their work and would never stop - what do you do for a living..?

I work in corporate IT and very much do not feel like that but it must be nice to have a sense of purpose from your work

Yes I would but with the confidence to speak out more because it wouldnt have such high stakes

Yes I would but I would reduce my hours and try to take a 6 week break each year.

I dont mind working if I can have a break, and Id rather spend the money on a nice house and support with cleaning/gardening than stop work. Id also potentially do a masters to increase my earning potential which would mean I could do less hours.

I would use it to buy a bigger house with land so I could start my own allotment at home, have an orchard, wild flower meadow and art studio, with next to no mortgage. I only work part time now and I like my job. I am a bit lost when I don't work.

Yes, we’ve worked out we would need at least 5 million to retire early from our main business. We have a secondary source of income that would pay for day to day needs and we’d set up some hobby businesses for fun.

Yes, but I think that I would consider reducing my hours/days slightly.

However, I'm not sure how long a million pounds would last me, as this house is a money-pit (and I have big ideas for it, on top of the general work that needs doing), and judging by the impressive list of advisories that my car got with its last MOT, that's going to need a lot spending on it to keep it road-worthy!

I'm nearly 50 with a pretty good amount of savings already so I definitely could retire on that. Until quite recently I would have said I lovey job but it's recently become really trying so I think I'd leave. Is probably do something else maybe part time.

I’ve just moved to 3 days a week. When it shifts from more time at home than at work it really changes your perspective. I’d not give up work but I only work 3 days

No, I’m now of an age where I could retire comfortably on £1m so I’d be off

It depends on how long to retirement and how much you would earn by continuing to work. Imagine giving up a 100k a year job. Blowing the million in 10 years and then having to go back to work and because you haven't worked for 10 years only being able to get a 25k a year job. I would want to take some financial planning advice.