Value of 'one more year'? Is 5% more a year for life worth working an extra year for?

Albermarle

cloud_dog said:

I think, as a previous poster mentioned, it (for me) would not come down to the finance aspect, but would come down to the work enjoyment aspect.  If you are enjoying your work life and the balance and opportunities that offers with your home life, then by all means carry on, and simply recalculate the monetary benefit as you go.

Having recently lost my last parent, and having (obviously) witnessed their last year, I'm not sure how much money I would swap for an extra year early on.

We may be in a similar position to yourself (number wise), although work life for me is difficult at the moment (one day at a time), but we have decided 1 November 2024 is our date (to hand in notices); not an idea time of the year but it is the earliest feasible time.  

The comments in bold are what applied to me.

I could have afforded to retire at 60 ( or probably a bit earlier), but as I had a reasonable work/life balance, a good boss and was quite well paid, I did OMY before handing my notice in, and was another OMY before actually retiring.
So two more years of adding to the pot and not taking from it, so a double plus financially.
One advantage has been the extra buffer/having a bigger pot than I need, is that I am more relaxed about spending/not earning, than I thought I might be.
No point retiring and then lying awake all night worrying about money for the sake of one or two more years. Especially if you do not hate your job. 

Ganga

Albermarle said:

cloud_dog said:

I think, as a previous poster mentioned, it (for me) would not come down to the finance aspect, but would come down to the work enjoyment aspect.  If you are enjoying your work life and the balance and opportunities that offers with your home life, then by all means carry on, and simply recalculate the monetary benefit as you go.

Having recently lost my last parent, and having (obviously) witnessed their last year, I'm not sure how much money I would swap for an extra year early on.

We may be in a similar position to yourself (number wise), although work life for me is difficult at the moment (one day at a time), but we have decided 1 November 2024 is our date (to hand in notices); not an idea time of the year but it is the earliest feasible time.  

The comments in bold are what applied to me.

I could have afforded to retire at 60 ( or probably a bit earlier), but as I had a reasonable work/life balance, a good boss and was quite well paid, I did OMY before handing my notice in, and was another OMY before actually retiring.
So two more years of adding to the pot and not taking from it, so a double plus financially.
One advantage has been the extra buffer/having a bigger pot than I need, is that I am more relaxed about spending/not earning, than I thought I might be.
No point retiring and then lying awake all night worrying about money for the sake of one or two more years. Especially if you do not hate your job. 

About the decline in your health / or mobility but heyho you have got lots of money in the bank even if you cannot physically get out to spend it