What's your "fuck you money" figure?

[TrioOfTwats]

"Fuck you money" is where you have enough liquid assets to walk away from your job without a plan, most likely into a life of leisure without the need to undertake paid labour ever again.

What's your figure?
How old are you?
How far away from your "fuck you" figure are you?

My figure's about £1m which would allow for a house move and then a comfortable lifestyle with a small draw down each year until pensions kick in.

I'm turning 40 this year.

I've got about £600K to go.

I dream about my early retirement daily 😂

Think I’d need at least £5m. That would enable me to pay off the mortgage and draw enough income from the investment pot to maintain my current lifestyle for the rest of my life, whilst allowing for fluctuating interest rates over time.

Sadly the prospect of winning the lottery is remote.

😂😂😂

😭😭😭

A story in pictures

These numbers are massive. And we're relatively high earners. I'm 51 and would need about 300k just for me (on top of house and the 250k pension savings I currently have).

If it's an amount for a scenario where I don't ever need to work again, have a life of leisure and I have a property that is paid for outright and there's enough in the bank to see me through for the rest of my life? I would reckon a couple of million: I rent at the moment, so would need to buy a house (I'm in the SE so not cheap): nothing big and flashy, but would live a 4 bed house so that I can have friends/family staying over comfortably. There's a lovely place nearby that is £800k. I'd have some in premium bonds, some in ISA, some in pension, some for uni fees/helping the DC and then invest the rest and live off interest.

It's just me and 2DC. We live frugally anyway: we're not interested in designer clothes or flashy cars etc. My dream is to win enough to buy a place outright, have some savings (for maintenance of place) and then be able to work PT. My youngest is still at school so I'd not be gallivanting off on trips around the world etc.

How far away from the £2mil figure am I? About £1,999,900 currently!!! I have £100 in my account and that has to last me until payday.

I think that some of these figures are way too high and people could adapt if they want, but its fine if they dont want

I would need 2k a month at the maximum, so 24k a year. I have 14 years until state retirement but if I walked out of my job now I wouldnt get the same pension as predicted so not sure how to calculate that. But to live from now until retirement would be around 300k.

I would have to cut down on treats but I could do that.

I have nothing so far!

£400k for me.

I can't imagine never working, so on this amount I can draw down enough for bills etc yet still work in a part time, non stressful capacity. I'm nowhere near there, of course, but it's a plan!

Mine is 5 million. Which I don’t think I will achieve in liquid assets at least! We spend way too much money. 🤣

£2 million - we need to buy an ok house , give my son a good flat deposit, pay off some debt and make £30k a year on top of state pensions - this would work at £2 million

I would need £800k to be happy to quit my job without concern and know that I could live frugally but comfortably. However, I'd want the option to work again in something I enjoyed if the need or desire arose - I'm not sure that figure would cover me if I was forbidden from ever earning money again.

£5 million cash - Enough to fund activities to keep me and DH active and engaged for a long as possible/ healthy enough to volunteer.

Also to fund:
Round the clock / part time care services to allow us to stay in our home. We don't want to go into a care home but nor do we want to be a burden on our children.
Physio / personal trainers
Private Dentist
Specialist equipment fund
Pay for taxi's / drivers rather than being fully dependent on public transport.
Cover extortionate cost of travel insurance etc
Part time Housekeeper

I’m about to do this on a fraction of some of the figures mentioned on here. However I have no mortgage and I’m not taking my already retired husband’s income into account. The biggest stretch is from now until I can collect my workplace pension at 55.

To live the life I really want to I think minimum 5 million.
3m for both of us to live a lovely life without money issues til we die. I’m thinking 100k a year.
1m for a house and then some cash to make sure a few friends are ok etc

I could live on a lot less but that’s not ‘fuck you’ money for me.
I don’t own a home so could buy a cheaper house but it would be 400k where I live for a house with a garden in an area we like.
With no debts or housing costs we could live on less but I am a spender.

£60k I'm 62., Retirement is enticingly close.🙂

I have also spent way too much time thinking about this - went down a FIRE rabbit-hole a while back 😂

I’m at around £750k invested, split between pensions and ISAs. Mid-30s. Not sure when I actually could / would pull the trigger on early retirement these days - we have a reasonably chunky mortgage plus a 1yo and would probably like 1 more DC if we can, so that adds some uncertainty! Part of me wants to retire at 40 if I can possibly wangle that … Definitely don’t want to work longer than I have to just to fund lifestyle creep. It’s a tricky business!

Some of the figures on here are super high to me too @soupyspoon - either you’re all really high earning and spending and/or … retirement is a long way off!! I think I would struggle to spend £100k a year in retirement unless I develop a classic lottery winner’s monster truck and blow habit 😂

Congratulations!! Hope all goes well for you.

I agree, looking at bridging the gap between early retirement and pension age is the trickiest part for me.

I have hit the number I need to retire at 55. So as long as growth matches or exceeds inflation I’m good. But I have 7 years left to retire so would need approx 420000 to be able to retire tomorrow. We are just spending what we earn currently as it’s expensive time for us with teenagers - school fees, holidays, household bills are probably the biggest right now.

About 3m i think.
We are late 30s early 40s with 2 small children.

Sadly our net worth is no where near that!!!

Probably 2 million. I’ve just bought 2 lottery tickets…..

I'm interested in doing BTL too. But all the landlords are selling up because of restrictive new rules coming into force, which puts me off. If I was making 3k a month on BTL I wouldn't need extra money to quit work, I'd be out of there (like a bat out of hell. )

I feel the same. I'm a little younger but I think I could get by on a similar amount until pension age. Might need a bit more to account for inflation. That would be assuming I stayed where I currently live, and didn't feel the need to upgrade to a larger, more luxurious house.

Age 54

Drawdown 4% a year - a mix of pensions, savings and ISA’s to avoid income tax

This thread is not what I thought it was going to be about 😂

I’m only in my early forties and have two children who will need uni, a mortgage to pay off and a pension to account for - it’s going to be somewhere around £2m to see my death.

I’ll never get there. I’ll just be working and spending it on necessary resources as I go.

A friend of mine said that for her it is 5 million

she says she cannot relax until she and DH have achieved that

saying that, she does not even work 😁 and no kids under 18, but it’s all about manifesting…

I sort of get it, not sure I’ll ever accumulate any serious amount of cash as I am not tax savvy and seem to pay loads to HMRC any time I make any extra money 🤷‍♀️