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 😂

It’s because you’ve got a decent pension that you don’t need so much. Many, many of us don’t. I’m less than a decade younger than you and I only have about £55k in a pension as all my workplaces have had v low contribs and i haven’t been able to afford massive additional injections myself, plus breaks for babies, par time earnings, nursery costs etc.

True, but I read it as what is your ideal figure not what could you get by on. I have costed mine for the ideal liquid funds for the price of self funded care and independent living until the end.

Mine will be in 35 months time but my pensions kick in and they are all defined benefit so I don’t have one big pot.

Surely a fuck you figure would enable you to live the life you want, rather than a frugal life? If so, then I need about £5m. I like horses, fast cars and nice holidays!

If we are talking about enough money to just survive on without work, then £150k to pay off the mortgage and enough to live til I retire, then enough to top up the shortfall from the missed years of work/pension contributions, plus a bit in case of emergencies….so roughly £900k in total.

Pensions don’t dwindle to nothing 😂

They also don’t require maintenance

£1m. Enough to pay off the mortgage and fund a PhD.

Eh? They can do, of course. The money is invested in the stock market, so you could lose it all on a crash. And of course also you could spend it all.

I had a plan at 36 for 5 years, then I managed to pay the mortgage off when I was 39/40

I then saw a couple of colleagues struggle through not planning finically and didn't want to be in the same position.

So I have made my "fuck it plan" work for me

I stopped handed in my notice on my full time work roughly 5 years ago, I worked for a year knowing that was my plan ( to hand in my notice) but couldn't see the point of starting during the back end of covid. As everything was closed etc was was the point.

I have a passive income which is the majority of my income, then I have interest on savings - which makes up enough for me to live on. I had thought that I would spend my capital savings, but instead that has increased by 20% and I still save monthly (habit)

I see people on here saying how much you need, and you can't live on less than £40k per year. I smile and think well im happy living on far less than that, still saving a bit (change car fund, holidays abroad fund) and not touching my capital investments yet

Ive had a stinking cold this week, so stayed at home for 3 days - don't have to phone up anyone or feel pressured into working. I can see my grandchildren, travel when I want and I do spend 8-10 weeks on holiday/travelling each year

work is over rated imo

1 million.

@LoisPrice do you mind if I ask if you are on your own? I know personally I could get by on half what my H could - no expectations of certain types of nightly dinners, no expectation of pretty nice financed car, I’m happier with a more modest place to live, don’t insist on fairly high end hotels and upmarket holidays - whilst you can’t get around fixed bills i do think it’s easier to make simpler choices if itsall on you and your choices and not falling in with someone else’s expected lifestyle to keep harmony. For instance I suggested something to H today that was somewhat ‘why do this, let’s do this’ and I could immediately sense agitation And looked at me like I had 3 heads - -I think it comes from a period in his 20s when he was totally skint , didn’t have a career as such and lived very frugally .

Agree, we think about this a lot as a couple 😁 and would definitely want a bigger house around £2m, and our income is a LOT more than £40k so would need a lot more than that to avoid needing a more frugal lifestyle.

Yes, im on my own.

I like nice experiences but don't value material items. I can't get excited by an expensive car but can get excited about a month in Europe travelling around.

I am probably a foody, but thats home cooking and also eating out a bit, its the social side for me and the food.

Holidays vary a lot from guided adventure tours, (they are the most expensive) camping, cunard cruise and all inclusive, also 3 days away (I would say weekends but its sometimes mid week)

I'm not really interested in clothes either, I rewear the same things over and again and as long as I'm smart and today I don't worry.

I really enjoy my freedom and being around my extended family, being there for them if needed and not having the pressure of time constraint with a "job"

@LoisPrice I am very like you I think - certainly if I was on my own I would think exactly the same - it’s one of the big things I don’t like about being married ( 30 years in a couple of months) - the constant adapting and going along with things to fit someone else’s expectations - it’s actually this I don’t like rather than my H such - , don’t like the compromise needed to keep the lifestyle

@LoisPrice You sound inspirational 😍

About £1.5m in total for me & DH. That would clear our mortgage, provide income at current lifestyle to see us through to retirement, and top up our pension pots to provide for a decent enough pension. Though that’s a cash in the bank figure, some wise investment might mean a bit less would do.

I think about this all the time. My fixed term contract ends in a couple of months and I want to retire but it's really not feasible. I have two more years to go until I can get my hands on my NHS pension ( annual amount and lump sum )without taking a lesser amount. I will have about 25k saved to last me two years. It would be very tight although dh earning and mortgage paid off. I've always lived a frugal life and prepared to be more frugal if it means not having to endure the tedious daily grind and stress of working. Sorry can't even read the comments about huge pension pots, it's not the reality for most. I'm grateful for what I've got to fall back on though and that I don't have to work until 67.

I've done the calculations, and my figure is much lower at £500k, but that is just for me. I'm late 50s and ready to do something other than the 9-5 grind with zero job satisfaction.
DH can and will continue working for another 5+ years and has a good final salary pension.
House is paid off, I will contribute 50% of all the household expenses and fund my own shopping habit

For a Fuck you fund me and DH would want about 5 million! I would want to be mortgage free, nice car each (Lamborghini Uris for me) and to be able to jet off wherever we wanted and travel the world in luxury. Have spa days when I want, eat out lots etc
Maybe I should have married a footballer 🤣🤣

I gave up well before I reached it, but it worked out OK, you can increase your income quite a bit by full time managing your savings and investments when you actually have time to do it.

I don't think I did it quite so aggressively, but I walked away at 54, with c. £600k in savings.

I'm mostly living off the income generated from investments but have allowed for small drawdowns as necessary to supplement income until I start drawing my pensions at 60. I'm not scrimping and am.doing lots.of travelling.

In my head £200k will go to DC as house deposits when they need them. The mortgage was paid off a long time ago, through regular overpayment.

For people wondering how it was achieved, basically every time my income increased through promotion etc, I increased savings before I increased lifestyle.

I’d want £800k for a property (London) and £1.5m invested to draw down until I die.

It’s not going to happen.

Retire, not until I have to, I have a part time job I enjoy, paid holidays, Id be bored stiff so would OH, we work around my holidays. We dont waste money on luxury, happy to travel economy and stay in Premier Inn style places.

If £1m of cash in addition to your house, was available, invested in an annuity most could live very well without working.

£80k a year - before state pensions and mortgage free, £1 million for care home costs - kids can fight over the rest!

Where do people get their figures from?

Spreadsheet with household budgets