What is your "F**K YOU" money amount?
How much $$ is enough 💵? When do you stop playing the game? What is your value of FUCK YOU money? Buying an island?🏝 $100 Million? Or maybe just a peaceful 9-5 job that gives you a good salary?
All of these are wrong ❌ Fuck You Money is about time, not 💸. It is enough PASSIVE INCOME to solve your money problems. If your monthly bills are $5000, and you get $5000/month automatically, you have unlocked Fuck You Money power🖕
Are you a highly paid investment banker on wall street? Sadly, you are now working for 18 hours a day ⏰. And can't say Fuck You to anyone. Your $$ will stop if you do. Same goes if you are a VC ..
Raised $5M Series A for your startup? Oops. You can't say Fuck You anymore. Raising funds isn't bad per se. But try not to jump into a game without knowing its rules.. 📉 You now have a 1/1000 chance of getting a good exit and putting Fuck You money in your bank🏦
This pursuit optimises for time; the only thing billionaires can't buy. Having passive income will give you the ultimate freedom - unlimited time to pursue the joys of life🧘♀️. Maybe that’s working 18 hours a day for you, but on your own terms 💪
Fuck You Money gives you enough passive income to pay for food 🧀, rent 🏡, medical💊, and insurance. Passive income == money without doing any active efforts. Majorly via SaaS revenues, eBook Sales, Royalties etc. Unfortunately never via high salary!
Are you getting a high salary, and saving loads of it? Putting it in index funds? Uh oh! 😇You might just make enough Fuck You money by 60. Freelancing and consulting are higher steps on this ladder, but you never get rich by selling your time.
I am not saying that saving money and investing in stock market is a bad idea. I do it myself, and it's a great vehicle for your money to multiply while you sleep 🚀. But it won't get you Fuck You money unless you are a full time investor.
The pursuit of Fuck You Money is not about finding a pot of gold and retiring early 🌈. You don't have to spend the next 20 years sitting on a beach sipping Pina Colada. That shit is boring. You simply get to focus on things that matter to you vs worry about paying bills😎
To calculate your Fuck You money e.g. -->
A - Annual bills = $2000 x 12
B - Medical etc = $8000 per year
C Assume worst case annual interest = 4%
FUM - Fuck You money = (A+B)/C
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If you are in Asia, Fuck You Money is as low as $500,000 in your bank. Which is $1500 / month interest in your hand magically! 🧙♀️Doesn’t sound a lot, does it? 🎉 What are you waiting for ..
Don't know about the money but the number of emojis made me reach out for eyebleach.
Funny that was my fave part of the post
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It does unfortunately. Especially for non U.S. citizens.
I agree.
As an Australian, I frequently read about Americans making 300k, 400k (both USD), or more for relatively regular jobs (i.e you don't have to be a CEO or high-end lawyer). Meanwhile the same position in Australia would yield a quarter of that.
I think this is more a reflection of how uneven the US is than other countries' workers being paid too little, however.
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I am Indian, and though I am lucky to have previously high paying jobs in VC funded tech startups, I am not in any way close to $500k myself.
I just wanted to make a point that F U money doesn't have to be as high as we are taught / thought!
Please tell me where you're getting a risk-free, guaranteed 4% annual return on savings.
Where I live, if you have good credit, you can get a mortgage for under 3% right now. I don't see why a bank would offer that loan if there was a surefire way to make 4%.
How much will your $100 become if you put them in a Fixed Deposit for one year? Here in India, you easily get 5%, and as high as 6%
Of course Index Funds etc will make the returns much igher
Index funds have higher returns but are not risk-free. If you're trying to save only the bare minimum you need for FU money, you can't really tolerate any risk. If you invest in it index funds, you will eventually have a bad run and have to start eating into your principal, instead of living off earnings. If you started off with the bare minimum of FU money, then that will be enough to push you back out of FU territory.
Very interesting about the Fixed Deposit rates in India. Those seem similar to what we call Certificates of Deposit (or CDs) in the United States. Historically, you could definitely find rates above 4%, but it's been a while since that was the case. Right now the best CD rate I can find is 1.25% APY if I tie my money up for 5 years. Yuck!
Someone told me this in College and it's stuck: $10 Million.
Why? Because you can put that in treasuries/safe investments and make a 5% return every year in perpetuity. That's 500K that you get to draw down without touching the principle. I can't imagine spending more than that in a year so that's my target. :)
Yup makes sense!
maybe if iwill have afew b $ iwill stop
EUR 500K net wealth would allow me to invest it and live comfortably from its the investment proceeds. Not sure I would call it F U MONEY, but would be more than enough for me.
Money is not crucial though - time, health, and social wealth are at least as important as money.
More than enough === Fuck you money??
While I think that the concept of FUM is interesting, I thin there are a few aspects to consider:
Just my two cents.
Good points! I think a lot of founders who sell for $100 million plus feel this.. But I don't think this is binary.. You can find your true goals, and still have financial independence. Or at least should aim for it
LMAO, good one!
Anyway. FU Money to me is basically diversified dividend income that I can live off of very comfortably. Something like $200-250k/yr.
I don't really care what that net worth works out to be (it definitely has to be 7 figures, as $200k/yr, even at 5% return, is about $4 million).
I was fully on board until the 500k example haha. Something more attainable is just calculating the FUM equation out, in this case $33,280 anually and $2773 monthly based on your example expenses.
Totally agree though that once this threshold is reached with passive income, your money becomes your freedom.
500k in India, with 4% annual returns, will let you live a very happy F U life. It will cover all your expenses of rent, food, medical, life insurance etc
I am not disagreeing with that - I am just saying that attaining a sum of $500K is not feasible for almost most people regardless of occupation or project. That's an insanely high number lol
Obviously we're on IH forums, so if your point is that $500K should be a goal for projects and then never work after that, then sure. But if it's just about separating time and money, the sum required is significantly lower which you alluded to. That's all!
makes sense! you are right about that.
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