A lot of good perspectives on this thread. It really comes down to knowing yourself. Do you work to live or live to work? Are you someone who has trouble working for others, or can you be content playing along and not getting upset with decisions you find wrong or preposterous? Are you looked to as a leader by those you currently work with? None of the answers are really wrong, so long as you're taking care of your responsibilities.
Early in my career, I passed up several promotional opportunities. Was in a very good situation and didn't care for it to change. At one poin my then boss was on extended leave for surgery. I spent half the time he was out moved into his position and the other half reporting to a few guys who were getting rotated in, dependingon staffing. Basically I was scared straight. Got a good look at what reporting to a new boss would likely be and decided it was time to move up myself. Have had a few more promotions since that time. Overall it's been good, but still up in the air if the added stress is worth a little extra pay. I've passed several more promotion opportunities to be one of the the top spots in our organizational chart because I'm still not sure of the answer for me to the stress/pay trade off, and I continually reevaluate the questions I posed earlier.
My old buddy was a logger. He only worked for money when he had to. He hunted and fished more than anyone I ever met. He died in his 60's from cancer. I visited him on his deathbed, and he told me that he never regretted one day of his life that was spent in the field. He stated that in light of his early death, he was supremely pleased with himself that he didn't make his life about money. Then he asked me if every day I spend at work is worth whatever I'm giving up to be there. I went off explaining the financial implications of my situation, where he stopped me and said that if I knew for sure I was going to do something I enjoyed on any given day, why take a chance that I might not enjoy whatever the money I was earning to not do what I enjoyed was going to bring. Still mulling the implications of that question over, but I am certain that I'm going to retire as soon as I'm able.