How much is your F U money?

[revhappy]

work is usually not enjoyable. that's why they pay you for it

I agree. Most people are not fortunate enough to get the job that they love. But still I believe once you reach closer to your FU money, you should strive to look for what you really like to do and then try to work in that area. It gives a lot of satisfaction to do something you like even remotely or even the journey towards making that transition can be satisfying once you achieve it.

I am in IT, but I hate IT. I like finance/investing, but I am not probably very good at it. I am planning to make the transition to do something related to finance. It helps that I have been working in banks all throughout. So I am planning to become a functional analyst or a business analyst.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[wahkao3]

I agree. Most people are not fortunate enough to get the job that they love. But still I believe once you reach closer to your FU money, you should strive to look for what you really like to do and then try to work in that area. It gives a lot of satisfaction to do something you like even remotely or even the journey towards making that transition can be satisfying once you achieve it.

I am in IT, but I hate IT. I like finance/investing, but I am not probably very good at it. I am planning to make the transition to do something related to finance. It helps that I have been working in banks all throughout. So I am planning to become a functional analyst or a business analyst.

Sent from Xiaomi REDMI NOTE 4 using GAGT

becoming investment analyst is tough to break through
now I own self analyse stock market, invest my own life saving and profit.

 

[Mecisteus]

Fu*k you is a state of mind. A cleaner can say fu*ck to the CEO. He can get another job easily.

Have you gone out to work or still schooling?

If you are at the low level of the food chain, the bosses don't give a sh*t about you. You are easily replaceable.

 

[unhinged_loon]

Have you gone out to work or still schooling?

If you are at the low level of the food chain, the bosses don't give a sh*t about you. You are easily replaceable.

He's just meditating at home.

 

[revhappy]

becoming investment analyst is tough to break through
now I own self analyse stock market, invest my own life saving and profit.

Nice. You can work for yourself. Create a blog and share your ideas and you can monetize it. You can also write for seeking alpha.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[frenchboxers]

First stage is to say F U to parents,for that I think 200k is more than enough.in fact I would pack my bags once I hit 100k.

Next is FU to bosses for that I think 400k to 500k is enough.

Next would be F U to country and SAF...this I also think 500k is enough,lots of people out there who migrate with barely even 10k in their pockets.250k u can start attempting to find another home destination.

Last but not least is to say F U to the world,this u have to be rich enough to board Elon musk's space craft to mars....ur networth has to be at least the top 500 in America.

 

[revhappy]

Coincidentally some one shared this on FB today:

http://www.investopedia.com/articles/retirement/050416/8-countries-where-200k-retirement-savings-will-last-30-years.asp

I am not sure if 200k USD, is really safe to retire. But I think if you have 500k+ you can start contemplating to say FU.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[AXman49]

First stage is to say F U to parents,for that I think 200k is more than enough.in fact I would pack my bags once I hit 100k.

Next is FU to bosses for that I think 400k to 500k is enough.

Next would be F U to country and SAF...this I also think 500k is enough,lots of people out there who migrate with barely even 10k in their pockets.250k u can start attempting to find another home destination.

Last but not least is to say F U to the world,this u have to be rich enough to board Elon musk's space craft to mars....ur networth has to be at least the top 500 in America.

I think 500k is the minimum to FU to bosses. It also depends on individual financial commitment.

 

[revhappy]

I think 500k is the minimum to FU to bosses. It also depends on individual financial commitment.

Yeah, it depends on lifestyle also. If you can stay in HDB and travel by MRT, you can say FU very easily. But if you want to stay in condo and want to drive car and want latest iPhone, then basically you are FU'd.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[havetheveryfun]

Yeah, it depends on lifestyle also. If you can stay in HDB and travel by MRT, you can say FU very easily. But if you want to stay in condo and want to drive car and want latest iPhone, then basically you are FU'd.

Sent from Xiaomi REDMI NOTE 4 using GAGT

stay in hdb and travel by MRT also need at least 200k..

200k at 5 % yield only gives you $833 a month...

enough for a single but definitely not enough if you want to get married and all and if have to take care of parents..

even if a person saves 1k a month.. 200k will take 15-17 years to reach.

if he starts work at 25.. by then he would already be 40.

 

[frenchboxers]

stay in hdb and travel by MRT also need at least 200k..

200k at 5 % yield only gives you $833 a month...

enough for a single but definitely not enough if you want to get married and all and if have to take care of parents..

even if a person saves 1k a month.. 200k will take 15-17 years to reach.

if he starts work at 25.. by then he would already be 40.

It would be faster if he invest the 1k per month,also there's nothing stopping him from working hard in his twenties,maybe work 2 jobs,clear 4,5k a month and save 3,4k a month,he will be done in 5 or 6 years....after that can dial back and

 

[Mr.Canberra]

stay in hdb and travel by MRT also need at least 200k..

200k at 5 % yield only gives you $833 a month...

enough for a single but definitely not enough if you want to get married and all and if have to take care of parents..

even if a person saves 1k a month.. 200k will take 15-17 years to reach.

if he starts work at 25.. by then he would already be 40.

Starting from 40 years old is a good gauge to start such a lifestyle but if still can work why not? Can be not high paying but relax and happy job/business.

I agree S$200,000 liquid assets (CPF no count) will be the bare minimum if one is thinking about not working at all and live a simple and frugal lifestyle. However need to satisfy the following conditions in order for this to work long term.

1) No drawdown on capital as need it for continued yield income. Preferably 8% p.a. or more.
2) No rental expenses or live in fully paid up property.
3) No dependents.
4) Single and no intention to settle down.
5) No motor vehicle.
6) No debt.
7) No long distance and expensive vacation. Cheap vacations are doable if have leftover balance from monthly passive income.

 

[havetheveryfun]

Starting from 40 years old is a good gauge to start such a lifestyle but if still can work why not? Can be not high paying but relax and happy job/business.

I agree S$200,000 liquid assets (CPF no count) will be the bare minimum if one is thinking about not working at all and live a simple and frugal lifestyle. However need to satisfy the following conditions in order for this to work long term.

1) No drawdown on capital as need it for continued yield income. Preferably 8% p.a. or more.
2) No rental expenses or live in fully paid up property.
3) No dependents.
4) Single and no intention to settle down.
5) No motor vehicle.
6) No debt.
7) No long distance and expensive vacation.

I don't think now drawdown on capital is that hard. It's not like the person will be able to just sit at home whole day long.. he would probably feel bored at times. Use the yield generated from the 200k for basic living expenses, then for anything extra like holidays, go work once in a while..

the thing is you would still be able to work in a 9-5 job for a much lower pay, but at least maybe doing something you like, and will feel that you can quit your job anytime.. that feeling is great.

but I think the hard part is still saving up that 200k first AND then not touch it at all.. I think most people find it hard to not spend the money actually when they see it

 

[revhappy]

It is a habit very hard to change. It depends on upbringing and circumstances how you grow up. If you are the kind of guy who is a habitual spender, you cannot save, even if you try to. If you are a habitual saver, you cannot spend even if you suddenly gets lots of money.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[cybercom8]

when you have 1m, you will find that you need 2m. when you get to 2m, you will want 3m because of your enhanced lifestyle spending

when you have 3m, you will realise you need at least 5m to maintain your lifestyle throughout your retirement years

 

[revhappy]

when you have 1m, you will find that you need 2m. when you get to 2m, you will want 3m because of your enhanced lifestyle spending

when you have 3m, you will realise you need at least 5m to maintain your lifestyle throughout your retirement years

Yeah, these type of people are habitual spenders. They can never retire.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[wahkao3]

dividend warrior can say f u to his boss liao

 

[wahkao3]

Nice. You can work for yourself. Create a blog and share your ideas and you can monetize it. You can also write for seeking alpha.

Sent from Xiaomi REDMI NOTE 4 using GAGT

blog can earn how sia? $10/mth?
Not enough to pay internet bill leh

My writing skills sucks.....

 

[Mr.Canberra]

I don't think now drawdown on capital is that hard. It's not like the person will be able to just sit at home whole day long.. he would probably feel bored at times. Use the yield generated from the 200k for basic living expenses, then for anything extra like holidays, go work once in a while..

the thing is you would still be able to work in a 9-5 job for a much lower pay, but at least maybe doing something you like, and will feel that you can quit your job anytime.. that feeling is great.

but I think the hard part is still saving up that 200k first AND then not touch it at all. I think most people find it hard to not spend the money actually when they see it

Yes find a relax and a job you enjoy doing. The lower salary is not the issue. The main purpose is to keep a social life and pass time.

The accumulation part is not the hard part if you stay focused with your goal. For majority of the people the challenging part is not to squander away the wealth.

It is a habit very hard to change. It depends on upbringing and circumstances how you grow up. If you are the kind of guy who is a habitual spender, you cannot save, even if you try to. If you are a habitual saver, you cannot spend even if you suddenly gets lots of money.

I was not born with a silver spoon in the mouth so I have to work and earn money if I want to buy something for myself when I was a kid. Can you imagine working for S$1.90/Hour in a fast food restaurant job?

Luckily I belong to the habitual saver segment because I always recall back how hard it was to earn money. Due to this habit I was able to fork out lump sum cash for emergency use.

My main 2 purpose for hoarding wealth is firstly for future big ticket purchases/investment opportunities and secondly for emergency uses.

 

[terryhoho]

My friend 40s have 3m.stop working.
10 years later left 2m.
Start to feel pressure to earn again.


10 years later when u have different level of capital than today. Your mindset change as well.

Eg when ur new to work, u feel 3k is good salary.
10 years later, u complain 5k is low.