“Fuck You” Money
youngmoney.co
“Fuck You” Money
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Re: “Fuck You” Money
#2No post body was provided.
Re: “Fuck You” Money
#3Thanks for sharing! - the author
Re: “Fuck You” Money
#4To me, it sounds like the real problem is greed. $1B for some reason isn't enough for these people.
Personally, I'm looking to pay off my house, pay off the car, and then save up ~$2M in cash (Could happen quickly if the options in the startup I work at pay off, which based on current growth is very likely), then throw that $2M into an index fund and retire.
Maybe in retirement, I'll actually feel like I have the time to get some work done on personal projects. I have ideas for things I want to make that could make a couple dollars, but I'm tired all day and don't want to spend my limited free time working.
Re: “Fuck You” Money
#5To me, it sounds like the real problem is greed. $1B for some reason isn't enough for these people. Personally, I'm looking to pay off my house, pay off the car, and then save up ~$2M in cash (Could happen quickly if the options in the startup I work at pay off, which based on current growth is very likely), then throw that $2M into an index fund and retire. Maybe in retirement, I'll actually feel like I have the tim…
By the 4% rule, 2m in the retirement funds gets you 80k of income. Of which you have to pay taxes and fees and all those charges that accumulate. Most people who wish to do this add “going to a very low tax environment” to the discussion. But take a pro tip: health care costs add up.
As a guesstimate for California…. If you get 5m, taxes will take a third of it, and a house will take 1-2m. Which leaves you +/- on the 2m to invest. If you’re not into heirs, you can reverse mortgage.
Re: “Fuck You” Money
#6To me, it sounds like the real problem is greed. $1B for some reason isn't enough for these people. Personally, I'm looking to pay off my house, pay off the car, and then save up ~$2M in cash (Could happen quickly if the options in the startup I work at pay off, which based on current growth is very likely), then throw that $2M into an index fund and retire. Maybe in retirement, I'll actually feel like I have the tim…
Can you share your general location (CoL) and high level math around retirement budget? Your target fund size feels really low if you're in any moderately high CoL spot. Not here to criticize your goal, but to see if theres something I can learn from your logic.
Re: “Fuck You” Money
#7In a recent interview, Eric Weinstein commented on recently rich crypto millionaires and how boring they are. What's the point of having "fuck you" money if you never say "fuck you"? They all fall into the same trappings as everyone else. The weirdest thing about people with this kind of money is that very few people use it in any meaningful way. These crypto millionaires should be funding new institutions to replace modern monetary theory, the predominant school of economics that will (according to them) lead to the end of fiat and global disaster apart from the enlightened. Instead they're buying lambos and flexing for internet strangers
https://mleverything.substack.com/p/whats-the-point-of-f-you...
Re: “Fuck You” Money
#8so this whole thing is based on a Nassim Taleb quote.
I read his books and thought they were kind of interesting, but it always felt like he was just saying random absurd things that he didn't have to defend because it was his book.
When I started reading his twitter account I realized this is true. He makes ridiculous statements like he is an authority on all possible things, and blocks and berates anyone who dares to disagree with him in even the slightest way. He is basically a troll.
He basically made one lucky bet in his trading career and then pivoted to making money by telling everyone how smart he is.
Re: “Fuck You” Money
#9To me, it sounds like the real problem is greed. $1B for some reason isn't enough for these people. Personally, I'm looking to pay off my house, pay off the car, and then save up ~$2M in cash (Could happen quickly if the options in the startup I work at pay off, which based on current growth is very likely), then throw that $2M into an index fund and retire. Maybe in retirement, I'll actually feel like I have the tim…
By the 4% rule, 2m in the retirement funds gets you 80k of income. Of which you have to pay taxes and fees and all those charges that accumulate. Most people who wish to do this add “going to a very low tax environment” to the discussion. But take a pro tip: health care costs add up. As a guesstimate for California…. If you get 5m, taxes will take a third of it, and a house will take 1-2m. Which leaves you +/- on the…
I've recently heard some criticism of the 4% rule. It's designed with two assumptions: that you are old, and that when you die there may be basically nothing left. So it only needs to last around 30 years give or take. But if you retire at 30 with a strategy that runs out in 30 years that could be an issue.
But on the other hand I do believe you can prevent blowing up if you are willing to live lean when the economy is doing bad (the standard assumption is that you keep increasing your spending in line with inflation even as your portfolio craters).
Re: “Fuck You” Money
#10To me, it sounds like the real problem is greed. $1B for some reason isn't enough for these people. Personally, I'm looking to pay off my house, pay off the car, and then save up ~$2M in cash (Could happen quickly if the options in the startup I work at pay off, which based on current growth is very likely), then throw that $2M into an index fund and retire. Maybe in retirement, I'll actually feel like I have the tim…
Can you share your general location (CoL) and high level math around retirement budget? Your target fund size feels really low if you're in any moderately high CoL spot. Not here to criticize your goal, but to see if theres something I can learn from your logic.
Beaverton, a suburb right outside Portland, OR.
CoL isn't too bad here, especially if you're operating under the assumption that the house is paid off.