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25x your annual expenses, after you've paid off your major debts such as mortgage and student loans. For me, $500,000 will do the trick, since I don't intend to
by Kluny 10y ago
25x your annual expenses, after you've paid off your major debts such as mortgage and student loans. For me, $500,000 will do the trick, since I don't intend to stop working when I hit FU money, just switch to lower paid jobs that are less reliable and more fun. I'll get there when I'm 45 or so, according to the current plan (which involves frequent long overseas vacations and buying fast motorcycles in the meantime).
- bjelkeman-again 10y agoIf you drive the fast motorcycles as well as buy them, you may not get there. Be careful out there! "The average Canadian motorcyclist is in 13.5 times more danger than a car driver" https://fortnine.ca/en/how-dangerous-are-motorcycles/ https://fortnine.ca/en/how-dangerous-are-motorcycles/
- hkmurakami 10y agoThat might work for your life plans, but someone else might have a strong desire to be married, have multiple children, perhaps care for their elderly parents, etc. The manner in which they want to provide may also vary. So I don't think it's as simple as "get FU money then stop" because you really do need to think hard about what you hope to earn in your life, to what end, and how it trades off with other great things in your life.
- Kluny 10y agoNo, you're quite right. FU money in 18 year is what will happen if nothing else changes in my life - and it's a better outcome than the unplanned alternative, which is chained to a job and broke in 18 years. But there are lots of other alternatives. I hope to get married and have a family, and my partner will probably contribute as much as I do or more to our shared savings. We might come up with some new goals together. But whenever I meet that person, I hope to bring more than debt to the relationship.