After reading the responses, I feel my amount is small. I just received $125K from my mother's estate. I've taken it as permission to let go of a job situation which, while it paid well, was not a real fit for me and was likely compromising my health. I have no plans to seek full time employment at this time, and at my age (50+) it would be challenging anyway. Instead I have taken a (low-paying) part-time gig with a nonprofit whose mission I support, and am working on lining up consulting or other part-time opportunities to bring in income. I don't expect to match my previous paychecks, or to continue to accumulate significant savings, or to ever be able to "upgrade" to a fancy first class lifestyle, but I do expect to be healthier and happier.
It's worth noting that I already have a decent amount of retirement savings, and that my husband, who is a bit younger, is happy in his work and intends to put in another 10 years to qualify for a full pension. I can sign onto his health insurance for a fairly low cost. Our primary residence will be paid off in 5-6 years, and the monthly payment is relatively low. Its value has increased a lot, although we have no plans to tap into that equity. I also still own the house I bought before we married, which although quite small, has also increased in value by at least $200K. It's a rental now, which covers all expenses with a small upside, but someday I'll get tired of being a landlord and sell. We aren't super frugal but we are not big spenders and we do not have kids, and thus no need to pay for their education, etc. It's also likely that I will get additional infusions of cash/assets from my father over the next decade, although probably more along the scale of $100-$200K than $1M.
Right now my primary goal is to not touch my retirement accounts and allow those investments to grow until I reach the age when I can withdraw without penalty. Given the medical history for women in my family, I'll probably take SS as soon as I am eligible. Until then, I'll cobble together what I can from part-time and consulting work, and I think there is a good chance that will cover my share of our expenses. I am keeping the money from my mother relatively liquid, and if I need to draw from that to supplement from time to time, I am comfortable with that.
My mother was just 23 years older than I am now when she died earlier this year. While I hope to have more time, I am in a high risk cancer family and there are no guarantees. When I do the math, it does not make sense for me to work at anything I am not passionate about, or to compromise my physical and mental well-being just to earn and save more money which I may never live to spend and have no children to pass on to. My latest jobs were stressful and sedentary. I do best with nine hours of sleep per night and lots of exercise and time outside. While I still intend to stay active professionally, I see my mother's parting gift as freeing me to spend my time on projects which I care about, and take time to take care of myself, without prioritizing financial gain over all else. I am profoundly grateful for that.
Apologies for the long essay. My point is that your tipping point may be closer than you think.
