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.

I think I'd pay off the last bit of our current mortgage, then buy a property to let, have that as my income and absolutely leave my current job which pays pennies but requires giving your soul every day 😆... Although Id feel a bit mean that my partner would have to continue to work as we obviously wouldn't manage without a wage coming in 🤭

100% not. I work a 60 hour week and my job consumes my entire self (primary headteacher). Only during school holidays do I feel like a human.
I would work, for sure, but in something low demand and enjoyable, however low the pay.

I do actually love my job and only work part so anyway, so the money is more like some extra money for the nice things in life, I work from home and honestly I enjoy the break from my two preschool children. So no I don’t think I would just quit my job. I would use the money to buy our dream, forever home and be mortgage free and some nice holidays. We already have a rental property so I would also use it to extend that portfolio.

£4000 a month imterest hell yeah id leave work

Absolutely not.

This question was asked to me a few years ago when I was in a job in my field that I absolutely loved (I was made redundant).

The answer was still absolutely not! 😆

Sounds like you really hate teaching.

Whatever happens with the money could you not do something else?
I know teachers who went on to become vicars, foster carers, a graphic designer and a doctor. It’s not too late. I’m sure there are any number of things you could do with your transferrable skills.

Life is too short to keep doing something you hate. Many workplaces have a welfare service that offers confidential coaching sessions to help you work out what you want to do and how you can get yourself there.

No I wouldn't continue working, unless it was to start my own business.

Yes. I’d probably splash half on buying a new bigger house mortgage free, then invest the other half and withdraw approx £20k per annum for life and enjoy the extra income.

I’m also a teacher, but I still enjoy it. Nice colleagues and supportive management makes a world of difference.

It wouldn’t be enough for me to stop working, I’m a similar age to you, and I’d want to pay more into my pension before stopping work.

i would use it to start planning for/working towards early retirement. I’d pay off the mortgage or buy somewhere better outright. That would take a big chunk of the money but would save me lots in interest. I’d then have at least £1k per month I could put into savings/invest along with whatever was left after buying the house.

once kids finish uni (in ten years or so) then I’d stop work and take early retirement, using the money to support me till my pensions kick in (at 60 then more at stage pension age).

I would definitely quit. I only work 2 days a week as I have a disabled DS to care for, if I could have a better house with better furnishings it would be life changing enough for us all. I don’t know what the interest on £500k would be but a quick google tells me it’s more then twice my current wage.

edit to add I would spend half on the house/furniture and keep half on cash

I'd book an immediate holiday, and then wait a month. I'd probably give my work four months notice rather than my formal two months, to give them some cover to recruit well.

I'm not saying I'd work very hard - but I'd be there for emergencies, and it would give me some headspace while making the decisions needed.

Then I'd be gone. We have a big whack of savings available, already, so with compounding a 1m pot addition now would be more than enough.

Children are very young and we haven’t yet reached a stage where they are enjoyable. Well, that’s perhaps not accurate - there are lovely moments but the holidays are very much about the children and what they can cope with and find enjoyable. I know that Instagram is filled with toddlers on sophisticated adult type holidays but the thought of managing two kids on a plane and jet lag and heat and food they aren’t used to just doesn’t give me enjoyable vibes!

I live in an expensive area where 1 mill buys you a 3 or 4 bed house so I’d probably buy a house like this outright which would massively take the pressure off. I’d carry on in my current job for a couple more years before switching to something part time and less stressful.

I have nice colleagues and management aren’t exactly unsupportive. I’ve worked with worse!

But I am bored of it. I have simply been doing it for too long and don’t derive any pleasure out of it any more. Is that reason enough to leave? Probably not. But it’s getting harder and harder to muster any real enthusiasm.

I’d do a job I love rather than my current role. It’s terrible but I’d pay off my mortgage then probably put the rest away for retirement. It’s not going to last me forever!

I'd work but in a 'hobby business ' way, like do a jewellery making course and sell bits and bobs at craft fairs. Is that even work?

Fuck no. I’m in my 70s and would love to retire, and DH too.

After tax? I’d hand in my notice immediately. But I’m I’m in my 50s already, so it would be an early retirement for me. If I was younger with dependent children I’d possibly think differently.

I don’t think that amount would last very long after paying the mortgage, debts, school fees, etc. and taking into account inflation. So no, I wouldn’t give up work for good.

I’d quit but look for something else, something that only required me for 1-2 days a week with minimal responsibility.

No I would never step foot in my place of work again. It would be a dream come true and I’d take very early retirement.

This. I would have every intention of working but then Janet my boss would annoy the fuck out of me one day, or I dunno… bad snow ⛄️. A multitude of reasons why I would inevitably think “fuck this I’m off home for a cuppa tea” and speed out of the car park 😂.

Absolutely not

It sounds like loads but I am 51 and could live another 40 years. If I gave up working now I would have a reduced pension (not in the UK) so the money would need to cover my expenses for maybe 40 years. A million wouldn't.

I'd love to stop working. But, DH would also insist on retiring as well & we couldn't afford both to stop & still enjoy life. We're late 40s/early 50s, but have school age children.

I'd probably quite my job, that I loathe, and do something else, with less hours, more enjoyable. I'd also invest the money & build it up into a passive income & we'd retire in 3-5 years.