Office politics, no appreciation for what you do and no more challenge in your job? Want to get out? Make sure you have money, ideally lots of money. Here is to Fuck You money and how to use it.
And now there are two…
Mrs CF liked her work for a long time. She’s also been very loyal to the company for years now. Despite working her butt off and making decent progress in organising her department and operational systems, office politics started to face it’s ugly head. Also appreciation for all her hard work was “limited” to make an understatement. She was no longer going to work with a smile. So what to do? Well, she quit! That make two of us now 🙂 It’s going to be a good summer!
There is only a slight problem. We are not financially independent, at least not in this country and at the level of expenses we would like to be. So at least one of us still needs to have a (part-time) job to cover the difference between the expenses and our passive income (well, plus some to get us to full FI eventually). We probably could get away with 1 or 2 days per week, albeit there are few jobs in any jobs in our line of work that would cater to this.
However, that’s not a problem at all. Because it’s okay to keep working (3, 4, or even 5 days per week!) if you like it. Even if you are FI, you can still have a job too (am I at risk here of rebuttal by the retirement police?). So that is why we will both be looking to see if we can find that dream job. First one that finds it, gets to work it 😉
Hooray for Fuck You money!
How much F-you money do you need?
Our dear Mr. Collins was the one of the folks to introduce “F-you money” to the big crowd in a fun way, and he told us why we need it. He also noted that the amount of F-you money not necessarily the same as your FIRE amount. I tend to agree with this. I think the amount of F-you money can be a lot less than you FIRE number!
Personally I would feel comfortable knowing I have at least 1-2 years in money in cash (or investments that easily liquidate). I feel that this would give us more than enough time to find new work if we need to. If I’d be younger, had lower monthly expenses and would be more flexible in life options, I’d probably be fine with just 3-6 months in cash. So I pretty much consider my emergency fund also as my F-you money. I did meet some entrepreneurs that had about €0 in F-you money, but that’s a bit too risky for my taste (that’s also why I suck at being an entrepreneur!)
How much do you need? The amount you feel comfortable with to survive on for long enough to find new work/income. There is no right or wrong answer here! Just personal preferences. That being said, if you hit your FIRE number, that is the ultimate F-you money amount obviously!
How to use FU money
It’s really easy to use F-you money, just walk up to your boss and till him/her that he/she will have to do without you for an indefinite period of time. You don’t even need a new job before you say it to him/her. You just need to be comfortable that you can survive on your F-you amount long enough to find another job or source of income.
F-you money can also be used to fund a mini-retirement or sabbatical. Or just to have some time for yourself (part-time work?) and enjoy the better things in life (such as time and a beer!). Whatever it is, make sure you use it if you need to! Don’t strive for FIRE by being in a rat race to the finishline, make sure you enjoy the ride!
Now, either get that F-you money if you don’t feel you have enough, or go use it if you do! Life is great, make sure you experience it too.