I always defined f*ck you money as having enough money to not care about what anyone thought. You could walk up to anyone and say “Fuck you” and not worry about the consequences. This also applies to not caring what others say, not caring about what anyone else does and not worrying about what you do. Growing up I felt that having $5 million would be my f*ck you amount. That number has since risen quite a bit.
I have also noticed different attitudes about what exactly f*ck you money is… Some people have the f*ck you attitude and are dead broke living with moms without money or a job. Others have levels of f*ck you money. For example they could care less about anyone in a lower social class then themselves. There is another type of f*ck you money that I was introduced to this week (through a post at living off dividends). If you are currently working at a job, but have multiple streams of income you could have enough f*ck you money to quit your job.
You can have various streams of income coming from investments, other jobs, or anywhere. The investments include rental properties, stocks, bonds, or whatever other method you have that gives you monthly income. Once you make enough money to cover your living expenses coming in separate from your job, you have enough f*ck you money to quit your job at anytime.
I think this is a goal that people should strive to achieve. There are many benefits to being able to walk away at anytime. You will have less stress, which means a lot to you and those around you. You will probably be more productive because you will be able to work without pressure. Just imagine being able to have your resignation letter saved on your computer to leave whenever you want. It gives you the advantage to do what you want.
Passive income is great. Being able to walk away from something gives you a great power. I have always thought that people should get rid of debt not related to assets (or tax deductions), then save up 3 months rent. Then from there get your game tight, start earning money on your money. A good goal would be to make an equivalent income to your primary job, outside of your primary job. Then of-course double and triple that…
This is a level of f*ck you money, not absolute f*ck you money. But it is a level that you should strive to achieve. I am a firm believer that once you put something into motion and you get success from it, it is hard to make it stop.
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June 4th, 2008 at 5:48 pm
maybe thats a new definition of financial freedom - rich enough to call up your boss and tell him to F**K OFF!
June 5th, 2008 at 10:33 am
I agree, there are just varying degrees of it. There is rich enough (liquid) and then this whole making enough passive income, gaining enough style. Financial freedom has its relativity factor as well. Once I make a certain amount I can retire down south, then there is a much larger number to reach before I could retire in the US.