02-06-2022, 08:56 AM
(02-06-2022, 07:53 AM)cemanuel Wrote: "I think financially, unless something really wonky happens with my portfolio or my spending habits really change, then I can afford a relatively basic lifestyle without working a single day ever again. But that's not really what I want to do, it's just nice to have that possibility."
I called that, "If they really piss me off," money. Not that it meant I'd retire but that I could quit on short notice without having something else set up and live on it for a while.
Different from "FU money." To me that meant I could completely leave the workforce.
FU money, for me, that would be in the 5 to 6 mil range
i read an article, in silicone valley/tech industry that 10 to 12mil seemed to be the magic number for people to just walk away no matter what age
on a side note i was talking to one of the guys at work and he said he was talking to a client who was having a bad day couple of years, he was of all things a CFO of a fortune 500 company, took out some big zero interest multiple million dollar loans from the company, thought they'd be forgiven but no he had/has to pay them back--AS HE SHOULD!! foreclosed on 4 homes!! and was crying the blues because he was down to his last 10 million in his bank account but owed over 8 million in mortgages yet
idk--i don't feel sorry for the guy and i kept thinking and this guy was a CFO?? how can that happen?? guess living above your means and thinking the gravy train is never going to end--no different then that pro athlete or movie star