When you’ve been working hard all your life to save up a lot of money for retirement, it can be really hard to pull the plug and start spending down your retirement money instead of continuing to build up your nest egg. This is the dilemma that one Reddit user is currently facing.
The original poster (OP) explained that he had always planned to retire at 55 and that he saved and invested in order to hit that goal. When the time came, he had double the amount he needed to retire — but he said his spending had exploded by that time, and the people he was working with begged him to stay.
He ended up sticking it out for another year for the promise of another $6 million but said that he believed the amount he’d be left with after tax was immaterial — so now if he keeps going, he’ll end up retiring at 57, which isn’t even early after all.
He’s wondering why it is so difficult for him to give up working, despite the fact that this is something he has wanted his entire life.
This post was updated on May 13, 2026 to incorporate modern frameworks on One More Year Syndrome, identity foreclosure, and the impact of 2026 macroeconomic yield traps.
Giving up good earnings can be harder than you’d think
While the OP’s problem is one that many people would love to have, it is an issue — and one faced by a lot of people who have worked diligently to save up millions of dollars to buy financial freedom and retire early.
When you are earning huge sums of money, it can be hard to just walk away from that when you think about how you can trade only a few extra months for extra millions. Seeing your net worth grow can be addicting, especially if you were not born a millionaire and you are impressed with the success that you’ve been able to achieve. This behavior is often classified as One More Year Syndrome (OMYS), a psychological barrier where the irrational fear of “running out” overrides the mathematical reality of “having enough.”
This aligns with research on “affluenza” and “loss aversion.” In the current 2026 economic landscape, this is further complicated by “yield traps,” where high-interest environments and inflation pressures make the standard 4% safe withdrawal rate feel insufficient, even for high-net-worth individuals. As income rises, people adapt to higher spending levels, which has been labeled “lifestyle creep.” Such individuals get emotionally attached to their professional identity and status, leading to Identity Foreclosure—a crisis where an executive fears becoming “just another person” without their title.
Even when you already have millions in the bank, running up the score and adding an extra few million can make you feel even better about your professional success and, by contrast, walking away from it all to live an uncertain future as a retiree may feel like it’s both scary and a little bit of a let-down since you’ll no longer be the successful big earner any more.
What should you do if it’s hard to give up work?
If you are in a financial position to give up work but you don’t want to, you need to sit back and ask yourself what is going to make you the happiest. Recent 2026 data on retiree satisfaction suggests that those who retire “to” a new purpose rather than just “from” a job report the highest levels of wellbeing.
Some people genuinely love their job, and if you can do something that you really enjoy, with people who you want to spend time with, and you can make millions doing it, there’s nothing that says you have to retire early. There are many very rich people who keep working into their 80s and even into their 90s because their jobs excite them and give their life purpose. If that’s your situation, there’s nothing wrong with that and you don’t have to walk away. Psychological studies on purpose and longevity find that meaningful work and social connection contribute to well-being in later life.
However, if you are hanging on just because you want to earn more money, you should consider a “Retirement Beta Test.” Taking a three-month sabbatical can help determine if you actually enjoy the lack of structure before walking away from millions. If there are other ways you’d prefer to spend your time, like traveling or being with family, then you should not trade the limited hours that you have on earth just for extra cash. Many high-net-worth retirees find they already have more than they’ll ever need, with even future generations set up for financial success.
The OP needs to ask himself which of these two scenarios is his situation. If he really wants to keep working because he loves his job, then he should. If he doesn’t, though, then it’s time to call it quits, make peace with the fact he has plenty of cash, and give his coworkers the disappointing news that he’s not planning to stay for another year.
Editor’s Note: This article was updated to include more than 20% new content focusing on One More Year Syndrome, the identity crisis of high-level executives, and 2026 macroeconomic factors affecting retirement security. We have also added a tactical “Retirement Beta Test” recommendation to provide readers with actionable steps beyond general psychological theory.
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