Would ‘The Office’ Cast Be Ready for Retirement?
Written by
Dawn Allcot
Edited by
Cory Dudak
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
When the NBC television series “The Office” ended in May 2013, it left off with Pam and Jim leaving Dunder Mifflin and Dwight marrying Angela, with Steve Carell’s Michael Scott as the best man. But what happens next? How well prepared would they be for the trials and tribulations of the modern world, and retirement today?
Dwight, Michael, Jim and even Pam to an extent, all had an entrepreneurial spirit and an appetite for risk, which could serve them well. Or be their undoing. Here’s what their financial life might have looked like in the years ahead.
Michael Scott
If Michael continued on the same course, he’s likely still deep in debt and his kids’ only inheritance is a timeshare in South Florida he can’t dump.
Michael cashes out his 401(k) early, paying taxes and penalties, to invest in a “can’t-miss” business deal, which ends up being yet another pyramid scheme. That leaves him surviving on Social Security alone, unless one of his business ideas takes off.
A Reddit post that pulled historical data from Salary.com put Michael’s salary as a regional manager around $110,000 per year. If he started his career earning $40,000, in line with the times, he’d have less than $30,000 per year in Social Security income.
His options? Declare bankruptcy (loudly) or retire with Holly on a cruise ship, where he may hope, someday, to earn a promotion to “Assistant Cruise Director, Regional.”
Dwight Schrute
When the show ended, Dwight was making six figures as a regional manager, although the exact numbers are unclear. He undoubtedly maxed out his 401(k), which would leave him in a better position than Michael even before his beet farm, bed & breakfast, and the equity and passive income in the Dunder Mifflin building, which he purchased.
Dwight would probably, wisely, delay collecting Social Security until full retirement age.
His 401(k) contributions give him $1.9 million in the bank. (Let’s assume the company didn’t suspend matching funds — which they did in Season 5 amid the Great Recession — for long.) If he took withdrawals of 4%, which is standard, that would give him $76,000 per year. According to the MIT wage calculator, that’s enough for Dwight and Angela to live comfortably in Scranton today. However, Dwight is more than just “comfortable.”
The Dunder Mifflin building he purchased from David Wallace could be worth roughly $1.5 million today, based on LoopNET listings of similar commercial buildings in Scranton. We can surmise from exterior images on the show, references to building tenants and a sign displaying a 1,400-square-foot suite available in the “Scranton Business Park” that the building is at least 10,000 to 12,000 square-feet. It’s difficult to gauge how much income a building like this might make, but it’s probably a sizable sum.
And that’s just the start of Dwight’s real estate empire.
According to Haystack Land Company, farmland in Pennsylvania goes for $5,000 to $10,000 per acre. Dwight’s family beet farm, which expanded from 60 to 1,600 acres during the show, could have a value of $8 million to $16 million. That’s a lot of equity to tap into, if needed. Presumably, it yields a steady, albeit seasonal, income.
The bed & breakfast on the property offers a desirable location on the edge of the Pocono Mountains, close to year-round activities, skiing, lakes and other area attractions.
Rooms at the bed & breakfast go for between $90 and $192 per night, according to Schrute Farm’s fictional TripAdvisor listing. Assuming an 80% occupancy at an average rate of $130, with net revenue of 20%, Dwight brings in an extra $5,600 per month of income.
He loves being a host. As for the guests, they better not miss check-out time or the mandatory fire safety drill.
Jim Halpert and Pam Beesly-Halpert
Let’s look at one of television’s favorite couples. They made it through the rocky early years of Athlead (now Athleap) and moved to Austin after Pam sold the house, giving them some money in the bank to settle down in Texas.
Jim and Pam were smart enough to take advantage of Dunder Mifflin’s matching 401(k) plan. Pam’s Social Security, considering she started with a salary of roughly $30,000 and worked up to $41,000 with her promotion, would be around $1,500 per month. If she put 6% of her salary into the 401(k), she’d have $300,000 in her retirement account.
Similar to Dwight, Jim probably has about $1.4 million in his $401(k) and Social Security of about $30,000 per year.
But Athleap puts this power couple in a better financial position. Although it’s not canon, Jim’s an equity partner in Athleap. Plus, he never gives up his ambition. He consults in sports marketing even after retirement and makes wise investments, so he and Pam live comfortably.
Pam applies her love for art as a middle school teacher. After retirement, it’s feasible she and Jim invest in a paint-and-sip studio in downtown Austin, pulling in extra income and giving Pam a solid sense of purpose as she steps out of her comfort zone and stops playing it safe, once and for all.
More From GOBankingRates
