Eff You money?

[LWJ]

I have a number in my head where I can tell the world Eff You!!!

Probably not best to say what this is on the internet. But, I absolutely have a number.

I also have a small eff you number. This is a lesser amount that means I may still need to be polite to some. I am right about at the small e y number now. Mrs. LWJ doesn't seem to be on board at the smaller number - she seems to have increased her number over the last few years.

I am curious as to your thoughts on this. Anyone see the world in this way? I'm not saying that I ever will drop an E Y, but it is nice to be able to do so.

[Rusty Heap]

as the country western song goes:

"Money doesn't buy you happiness, but it buys you a boat.........and a pickup truck to pull it with"

[David]

$100 million

And to add to the comment above, “money doesn’t solve all your problems... but it solves one”

[Bob Kontak]

Originally Posted by LWJ

Anyone see the world in this way?

A manager I worked with said you need two million for a no change in lifestyle eff you at a salary of $150k (before E Y) in Cleveland.

[LWJ]

The change in lifestyle is correct. Hence small EY and big EY!

[red-beard]

$1 Million in US face value gold coins...or Cash equal...

[SeanPizzle]

Originally Posted by Bob Kontak

A manager I worked with said you need two million for a no change in lifestyle eff you at a salary of $150k (before E Y) in Cleveland.

4 percent safe withdrawal rate, which is pretty standard, will give you 80k on $2M. It comes down to what you need to live every year taking into account you wont need to incur work expenses (lunch, commute, clothing) and you wont be contributing to retirement from that 150k

[pwd72s]

Bob Brinker, on his money talk radio show, preferred the term "critical mass"...that financial state of living as you wish without having to work.

This figure varies greatly. Takes a pretty high critical mass to live lifestyles I'd consider a nightmare...like life in a high rise luxury condo overlooking Central Park in NYC, attending all the high status parties, etc.

To live a comfortable lifestyle in a no status neighborhood while enjoying low cost recreation and dining needs a much lower critical mass.

[McLovin]

IMO it’s not so much about a pile of cash (although you need that too) but how much you have in reliable passive income and other quality assets.

When I retired at around 50 my passive income was almost double what I made working. That was good enough for me. Didn’t see much use showing up for work every day after that. So I didn’t. 😃

[McLovin]

Unless you make a very high income (like 500k+) I think trying to work for the man, to try to save up enough cash to eventually be able to live on a 4% return on that cash, is a fool’s errand.
That’s the case for most people.
It’s become even more true now that the govt prints trillions, and isn’t going to be stopping any time soon. The value of that paper you’re relying on may not be what you’re thinking it will be 10, 15, 20 years from now.

[LWJ]

^^^exactly. Pile o dough or passive income. It doesn't matter. Both work.

[Rick Lee]

My retirement plan used to consist of a large asteroid hitting the Earth. But since I've gotten into a sales job with residuals and sometimes double my weekly goal by lunch on Monday, I don't think I want to ever retire. I work for myself and can go out and earn whenever I feel like it. No one is waiting for me to do something for them and no one will notice if I go off the grid for a while. When I want to come back and earn, I just head out and run appointments. My residuals will not get me through the year, but working a few days a week or month will be plenty when I'm really at the top of my craft (not yet).

[Porsche-O-Phile]

You either have the stress of trying to earn money or the stress of trying to keep everyone else from taking it from you - or some combination thereof. I certainly don’t think I’d ever want the endless stress of worrying about protecting a giant pile of money and everyone and their brother trying to rip you off or take advantage of you. I don’t live that lavishly and as long as I’ve got nice weather, nice outdoor places I can go and enjoy, some friends to talk to and spend time with and the ability to see family occasionally I’d be perfectly fine. I could keep myself amused and busy easily.

That all means that for me, the “eff you” amount is about $5M cash. With that I’d have more than enough to build myself a really nice place in a beautiful location ($1.5M to buy a parcel and build a place on it - not in the U.S.), set up both of my kids really well with enough for college plus a house or condo and some “get started” investment money (budget about $350k each) and pay myself about $75k a year every year for the next 30-or-so years (travel, play money, whatever minimal expenses I’d need, $75k/year * 30 years = $2.25M), plus about a half million of contingency money to deal with medical expenses or what-have-you down the road. That’s more than enough to live super well and have a great, stress-free life for myself.

It’s certainly an attainable goal (although it’ll take a few years to get there, which of course reduces the amount I need down the road too, so that’s a benefit) - I don’t need to hit the lottery or something pie-in-the-sky, just be sensible, invest well, keep busy and don’t get sidetracked.

[tdw28210]

for most people..a few million. Like 3 or 4. For the truly successful (or lucky sperm club members), closer to 10. Most won't get there, but life can still be truly grand.

[KFC911]

$3.42

[wildthing]

Mega Millions Jackpot of 200M and above. I don't play if it's not above 150M.

[onewhippedpuppy]

Originally Posted by KC911

$3.42

Ooooh look, got a real baller here.....

[KFC911]

Originally Posted by wildthing

Mega Millions Jackpot of 200M and above. I don't play if it's not above 150M.

LOL ... my entry level is 500M ... my FU fund is about half of what it once was!

I should have bought a cheap beer instead

[cabmandone]

$65.95.

[pwd72s]

Originally Posted by wildthing

Mega Millions Jackpot of 200M and above. I don't play if it's not above 150M.

That...right there..a really sound retirement plan.