What is the minimum amount one needs to be in the position of "FU"?

[jon.a]

thing is,even though i'm still a student, i have been earning income that is way more than i usually spend , i want to know, is the feeling different when one is earning 7 figure income..if so....what is the exact amount

There is no exact amount. I am as free as @MJ DeMarco. But he has more zero's.
We both can pay cash for shit. Me nice shit. MJ really nice shit.
You'll know when you get there.

 

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[MJ DeMarco]

what is the exact amount

$463,284.11 per year, at the time of this writing. That is subject to change, of course.

You've must have calculated incorrectly. My numbers say it's $465,350.13.

 

[MJ DeMarco]

Do you want to live here?

Or here?

Or somewhere in between?

The answer will help determine your #.

 

[AndrewNC]

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

Neither.

What if the very problem is simply the fact that you're attributing the amount of money you have on the outside to whether you can quit or not.

The answer is irrelevant because the question in itself is flawed.

Can you have $0 in your bank account and walk downtown today, talk to people, and sell them on some type of services you provide; coming home tonight $5,000 wealthier than you started?

Or will will you have $50,000 in your bank account, and have no clue how to bring products or services into the market place, allowing the money to quickly drain away from your mortgage payments, car loan, credit card bills, and other expenses?

What if the question is not about what you have, but who you are and what you are capable of doing.

What if in order to make it in this world, it's really about becoming the type of person who is able to make it on their own?

 

[MJ DeMarco]

Do you want to live here?

Or here?

Or somewhere in between?

The answer will help determine your #.

The best starting point to answer this question (all kidding aside) is to start with your living situation, and what YOU want for it.

If you and the family are cool with a 900 square foot tiny house, this will determine a lot, vs the 10,000 square foot mansion.

For instance, take a look at the difference in how much "FU" money you need to free up 100% of your time....

The tiny house has no mortgage and is on planted on 1/2 acre of land with a loan of $100/mo.
It's upkeep/utilities is only $100/mo.
It's insurance is only $50/mo.
Taxes: $100/mo

$350/mo.

So the minimum amount you need to "FU" your living situation is: $84,000. (350 X 12 / .05) = 84000.

The mansion:
Mortgage: $12,000/mo
Insurance: $1000/mo
Utilities/Upkeep: $1,500/mo
Taxes: $2,500/mo

$17,000/mo.

So the minimum amount you need to "FU" your living situation in a mansion is: $4,080,000. (17,000 X 12 / .05) = 4080000.

While I'm not a big fan of the tiny house stuff, the idea of being totally FREE to pursue a higher purpose is quite alluring, and I can see why it is now a feasible option for a lot of people. It was something I'd consider back when I was in my early 20s.

Your biggest nut will always be your living quarters.

Knock this expense down to the minimum and suddenly the world opens up to you. You can take bigger risks, take longer droughts, etc.

 

[G-Man]

i have been wondering what is the exact amount that you need in order to tell your boss it's over.

Depends on how much of an a**hole your boss is.

 

[MJ DeMarco]

Whatever the number, saving $1 today makes you $1 closer tomorrow.

 

[Blackadder]

There is an old joke that goes like this

A man walks into a restaurant with a full-grown ostrich behind him. The waitress asks them for their orders.
The man says, 'A hamburger, fries and a coke,' and turns to the ostrich, 'What's yours?'
'I'll have the same,' says the ostrich.
A short time later the waitress returns with the order 'That will be $9.40 please,' and the man reaches into his pocket and pulls out the exact change for payment.
The next day, the man and the ostrich come again and the man says, 'A hamburger, fries and a coke'
The ostrich says, 'I'll have the same.'
Again the man reaches into his pocket and pays with exact change.
This becomes routine until the two enter again. 'The usual?' asks the waitress.
'No, this is Friday night, so I will have a steak, baked potato and a salad,' says the man.
'Same,' says the ostrich.
Shortly the waitress brings the order and says, 'That will be $32.62.'
Once again the man pulls the exact change out of his pocket and places it on the table.
The waitress cannot hold back her curiosity any longer. 'Excuse me, sir. How do you manage to always come up with the exact change in your pocket every time?
'Well,' says the man, 'several years ago I was cleaning the attic and found an old lamp. When I rubbed it, a Genie apeared and offered me two wishes. My first wish was that if I ever had to pay for anything, I would just put my hand in my pocket and the right amount of money would always be there.'
'That's brilliant!' says the waitress. Most people would ask for a million dollars or something, but you'll always be as rich as you want for as long as you live. It's brilliant!'
'That's right. Whether it's a gallon of milk or a Rolls Royce, the exact amount of money is always there,' says the man.
The waitress asks, 'What's with the ostrich?'
The man sighs, pauses and answers, 'My second wish was for a tall chick with a big butt and long legs who agrees with everything I say.'


To me, that man is in the ultimate position of F*ck You
He can live where he wishes travel as he wishes and eat what he wishes.

To decide your position of F*ck you you need to know what it means for you.
For some to get to the same place they need a little "lifestyle planning" decide on what car,house,travel and leisure they want...then find the bare minimum they need to make it happen. then setting up an income stream that provides just enough to pay for that.

For others it means it means never having to pay for anything again (Home and Car that never need replacing, taxes payed for and food for the next year stored in the cellar)
.......and yet for others it means guns and a bunker buried on a stretch of land that they could hunt off of should the world end.


What does it mean for you?

 

[Raoul Duke]

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

 

[jon.a]

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

Why?

 

[Lex DeVille]

What's 7000 billion in your bank worth if you die tomorrow?

In my account it would go toward cryogenic resuscitation research to revive me from cryo-preservation. So .. worth a lot.

But for most people, nothing.

 

[Ika]

I think there are different stages of F*ck you.

For me, the first stage is less about one specific number and more about the confidence in to create value & sell it.

In my case it means I'm able to learn a new skill and can create enough value for my clients for them to pay me - in a short period of time.

Now, that is not a level of F*ck you to live your life in complete freedom.
But it is enough to not longer be dependend on your boss to survive.


On the other end of the spectrum is the big F*ck you money pot - enough money to live however you want to do.
This number depends on your lifestyle, your monthly expenses and your money system.

If you don't know what to aim for, read @V8Bill s thread to get started. If you need more input, read his book.



Forum member's number won't help you, because they are living a different life and have a different money system.


Gesendet von meinem XT1032 mit Tapatalk

 

[qaerst]

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

You can't stick a number on freedom.
Learn that time doesn't have a price tag , because you can choose how much your time is worth.

Don't even start calculating numbers in your head if there is nothing that will generate those numbers.

Good luck with your future businesses!

 

[James Fake]

I also think a question should be "Who do you want to say F*ck You to?"

Probably the typical, average middle-class American? (the old bosses, "haters", jealous peers, etc)

The more money you make, the less you care about "stunting" on average people. I don't care anymore about the "small stunting and privileges between what a $40k salary can get you versus what a $60k salary can get you or any of the small middle-class marginal things like an extra trip during the year than another can get."

Actually; as you approach breaking the $300k mark.. I found it to be the complete opposite, meaning...

The more money I've made, the more I wanted to "hide" how much money I truly make from friends & family & old social circles because I didn't want to make them feel bad about themselves and compare themselves to me. Especially my male counterpart peers in the late 20's and early 30 stages as suicide rates & depression for males are very high here, and my suspicion is "life progress comparison" being a big part of it.

Always remember too that there is ALWAYS someone richer than you doing something you can't do or driving something you can't. Always..

A hundred-thousandaire can say F*ck You to average middle class but get F*ck You'd by a millionaire.

A millionaire can say F*ck You to a hundred-thousandaire but get F*ck You'd by a hundred-millionaire.

A billionaire can say F*ck You to a multi-millionaire but get F*ck You'd by a hundred-billionaire.

 

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[jon.a]

@V8Bill wrote a good little book about this. I'm too lazy to look for the link. Maybe he'll pop in and drop it.

 

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[AgainstAllOdds]

You need at least $28,459 in your fastlane forum rep bank.

@Rabelo F*ck you.

 

[Rabelo]

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

 

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[Olimac21]

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

For me more about the money is what the job brings to you also on an intrinsic base. Even if I would get paid millions for cleaning bathrooms or having the worst boss possible I would prefer doing something else where I have autonomy and a sense of mastery in the workplace, whether as me as the owner or in a company where I have enough freedom to do interesting stuff.

 

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[E-Sharp]

I personally don't think it matters how much is in your bank account. It's how much you believe your worth yourself. I've told people to f off, simply because they were my down fall financially. Freedom isn't always about just money. They liberation starts with your mind. If you look at any boss and employee service you're the submissive operator.

YES! When I first encountered the concept of FU position on this forum, I immediately thought it applied to more than simply x dollars in the bank or x amount of other resources; it starts in the mind, by knowing what you will and will not accept in life. And if you're not in a position to refuse certain treatment from a boss or employer now, it may be that you either don't realize your own value, or you need to develop it further.

 

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[Chinobey]

thing is,even though i'm still a student, i have been earning income that is way more than i usually spend , i want to know, is the feeling different when one is earning 7 figure income..if so....what is the exact amount

I wouldn't know but i'm guessing whether its a billion or a million as long as you are financially free and money isn't an issue or worry the feeling would be the same.

 

[jon.a]

ok, thanks.i would appreciate the book

Or, you could follow the link to his name and find it.

 

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[timmy]

Strange question to ask.......

Here is my take on it.

9-5 job ........... Sorry no chance.

When you make money before you put your shoes on in the morning you`re finally on the right path.

When you care little what things cost you`re getting into it.

When you value time more than money............You`re home

 

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[qaerst]

ok, thanks.i would appreciate the book

You also obviously didn't read TMF and UNSCRIPTED , otherwise you would've known that time is your most valuable asset.
Not money. Not saying "F*ck you" to your boss.

What's 7000 billion in your bank worth if you die tomorrow?
Think about that for a second.

Good luck & have fun with the books

 

[E-Sharp]

In the past I told my boss to go F*ck himself with less than $400 in my bank account.
Does that constitute "F*ck you money"?

F*ck you money, or F*ck you position? I don't think they're necessarily the same.

 

[G-Man]

In my account it would go toward cryogenic resuscitation research to revive me from cryo-preservation. So .. worth a lot.

But for most people, nothing.

I would hire top scientists to build me a time machine so I could go back to the 80s and steal Biff's sports almanac. That's not nothing.

 

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[Vigilante]

$243,400.00

Give or take

 

[Lionhearted]

but the bigger home will require more property taxes maintenance etc plus we dont know how much that would go up which could be exponentially

Get so wealthy

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

I am willing to tell someone to FU even if it means I end up living in a cardboard box under a bridge. Nothing is worth losing your sense of self worth and life is way too short to be bad situation for any length of time. All the best.

 

[Greg R]

Whatever the number, saving $1 today makes you $1 closer tomorrow.

Finally some common sense in this thread.

 

[TonyStark]

Nothing - I see a lot of homeless people do it everyday.

 

[Mattie]

i have been wondering what is the exact amount that you need in order to tell your boss it's over. which one works better, being a millionaire or just simply have income that is 5 times more than all your expenses combined.

I personally don't think it matters how much is in your bank account. It's how much you believe your worth yourself. I've told people to f off, simply because they were my down fall financially. Freedom isn't always about just money. They liberation starts with your mind. If you look at any boss and employee service you're the submissive operator.

Told what you're to do on their terms. The Boss is the dominate figure. Holds the Power if you allow them too on their terms. Now they can be the best boss in the world, as I've had some great experiences. I've also had terrible experiences with other individuals. Health is number one key. I've heard many times their boss is the biggest Villain, and they make six figures. They are stressed, filled with anxiety, and depression. Now if you're aiming for Entrepreneurship, you liberate yourself from other controlling your life in all these areas. Still you have stress, anxiety, and depression. You just have control over your heath and finances by the choices you make alone.

When is it enough? I believe every Entrepreneur on the block has a different story in that answer. What will you sacrifice to have total freedom? Some sacrifice more than others. Some have a harder time than others in the process. There is no definite answer to give you.