Tim, people don't understand F U money. It's hard if you work for a wage (I do). What changed my perspective was a looming layoff a few years ago. I agree the best investment is in yourself. I've spent $6k on online writing courses (mostly yours and Ayo's) and just broke even. From now on, it's all profit (that goes into assets). Keep getting rich, man!
What I've been doing that's crazy is spending wild amounts of money on masterminds, coaches, group coaching and courses. The ROI has been incredible. Within a week of paying for a high-end course on webinars we doubled our results. I wish I'd known this cheat code sooner.
Hi @Denis, just for conversation's sake, I recall that you believed Robert Kiyosaki's ideas to be dangerous. I'm really curious, and this is just pure discussion, what makes you say that?
As iusual, right on the (fu) money. Keep on singing this song. At 84, I'm finally there: healthwise, I'm playing with house money; financially I have what I want 'cuz I want what I have...
Thanks for asking, Tim! Nope, I hang out in Lisbon, Maine, sing and play guitar in bars, and read and write on Substack, Medium and sometimes LinkedIn or X. I love your stuff but am not in a hurry to grow my career...
I pivoted to F U money mindset just a few years ago. And I am just now focusing on reducing my spend in studio (read: consumerist) shit to spend on myself and build a business. That’s why I joined your mastermind :) so grateful for that.
Ultimately, not everyone will wake up to F U money mindset, and that’s ok. Some want to play the game of the matrix, “enjoy life” because they “deserve” that business class ticket and Chanel bag.
I’m here to leave, as I like to say. Your words are, always, a catalyst for me. Thank you. 🙏
I hit FU money a few years ago. If I had to put a number on it, for me it's about a year's worth of living expenses in savings, non-retirement liquid-ish assets that will get you through another 5 years, and enough in your retirement accounts that if you don't add another penny and the market just does its thing, you can afford to retire in your 60s (us FIRE folks call this CoastFI). I haven't been an employee since 2002, and I've never made 6 figures. It's always been about my quality of life, not the label on my bag/car/jeans.
Most people feel the FU part without the 5-year padding, and you will know that you've reached it when you stand up to your boss about anything uncomfortable, because you know the worst thing they can do is sack you, and you know you'll be totally fine.
My hero, good and glad for you. This is where lowering expenses as much as possible has such a profound and compounding impact.
May I ask, if time permits, what’s non-retirement liquid-ish assets? Are you referring to things like gold, stocks, bonds, GICs, etc on a non registered account? A paid for home?
I do have the year long expenses savings doubly covered on a high yield savings bank account (4%)… only that was a “sleep like a baby” milestone.
But I definitely do not have said 5-years extra padding on assets and the retirement accounts are an ongoing battle (just maximizing employee match for now).
You are doing GREAT! I define "liquid-ish" as anything that can be turned into cash within a few weeks. Most of mine is in a regular brokerage account (ETFs, stocks) and penalty-free bonds.
And you are SO right about the upside of lowering expenses. My mother and I decided to buy a house together 18 months before she retired 9 years ago. We both love knowing that if something happened to the other, one of us could handle all expenses without struggling.
Somehow notifications went on disabled. Just wanted to mention a thanks for the follow-up and liquid asset further clarification.
On the joint efforts family home: I did the same with a sister of mine, but we just rent it. The thought was exactly the same plus giving an extra juicy down payment making mortgage payments quite easier.
Some years later she used that existing real state as extra proof of funds for buying her own house for her husband and family.
I am inspired to cut out watching politics and reducing my consumerism. I am inspired to cut my personal and business spending by 30% over the course of Oct. I think I can do just as much with fewer tools and thus less cost. Tim, this is one of the only Emails I ever read top to bottom.
Working towards my F U money every day. I've never owned a new car, never bought a piece of designer clothing. If that's your thing - more power to you. I just want to have my time. Always love reading your content!
If we can become as minimalist as comfortably possible and detach from chasing the next cool status clout thing (McSUV, McMansion, McTrips, etc)… the savings start piling up, free time starts to be available, life just becomes lighter.
Not saying to never do, buy or enjoy any of those things… but do we really need the latest fancy Tesla or yearly smartphone with max storage? Overly expensive micro apartment in downtown “where all the action is!”?
My realization was that reducing subscriptions, needless expensive activities, debts, etc that would amount to $300 extra savings a month, is a lot easier than trying to get a salary raise that after taxes (and ancillary fees of all sorts) would amount to the same.
I’m not doing enough with that free time though, definitely not engaging in F U money side hustle building.
Investing in my health is the key to having more time, to create wealth. Why I never miss a sunrise. Love the pic of the brides - ever hear of "torches of liberty", marketing campaign created by Ed Bernays?
Interesting point about raising how folks will think less of spending $100K a year on a degree program than they do in investing in coaching, masterminds, and other courses. It does make sense to set a budget for this life long learning and invest in yourself. The challenge I find, however, is that finding the right tools to invest in (courses, etc..) is like panning for gold. I think there is a lot of chaff out there amongst the wheat. This last year I've stepped off the corporate hamster wheel and done a shit load of self-reflection and definitely working on my own F-U money.
For example in the tech and art world (and the combination of, like video games), for some reason, there’s SO MUCH out there… true gold skillsets knowledge for free or at a steal. Tools that used to be many thousands of dollars a couple of decades ago are free to use now and orders of magnitude more powerful.
The problem here arises from actually being able to choose, parse and act hoping for the best. Else we can easily just learn forever and die as the ultimate expert that never executed in practice.
You are right, but in our societies the value of pursuing these “rewards” is ingrained. Having FU money is indeed about mindset. It’s about knowing what you want to do with your time. Most people don’t know and don’t want to dig deep within themselves to find out. The framework of a nice job and ever bigger salaries, possessions and other things is easy. As it doesn’t involve confronting yourself with what you really want. And step into an unknown future. The golden cage is real.
Good stuff Tom! I personally spend a fair amount on clothes and personal appearance. It's important to me as it keeps me in the line of abundance feeling and thinking as the F U money is made. Do you have any personal spending that you enjoy Tom?
Tim, people don't understand F U money. It's hard if you work for a wage (I do). What changed my perspective was a looming layoff a few years ago. I agree the best investment is in yourself. I've spent $6k on online writing courses (mostly yours and Ayo's) and just broke even. From now on, it's all profit (that goes into assets). Keep getting rich, man!
What I've been doing that's crazy is spending wild amounts of money on masterminds, coaches, group coaching and courses. The ROI has been incredible. Within a week of paying for a high-end course on webinars we doubled our results. I wish I'd known this cheat code sooner.
Hi @Denis, just for conversation's sake, I recall that you believed Robert Kiyosaki's ideas to be dangerous. I'm really curious, and this is just pure discussion, what makes you say that?
Hi Renee. What makes me say what exactly?
If you want to get to the next level, I highly recommend AL Brooks to learn price action.
As iusual, right on the (fu) money. Keep on singing this song. At 84, I'm finally there: healthwise, I'm playing with house money; financially I have what I want 'cuz I want what I have...
Chuck, what do you do at 84? Do you still travel?
Thanks for asking, Tim! Nope, I hang out in Lisbon, Maine, sing and play guitar in bars, and read and write on Substack, Medium and sometimes LinkedIn or X. I love your stuff but am not in a hurry to grow my career...
Coming from a Finance bro -- I loved the line about how income is priority number 1 and storage of wealth is priority number 2.
Income makes you bullet-proof. It forces you to keep your skills sharp. Agree?
Absolutely!
I pivoted to F U money mindset just a few years ago. And I am just now focusing on reducing my spend in studio (read: consumerist) shit to spend on myself and build a business. That’s why I joined your mastermind :) so grateful for that.
Ultimately, not everyone will wake up to F U money mindset, and that’s ok. Some want to play the game of the matrix, “enjoy life” because they “deserve” that business class ticket and Chanel bag.
I’m here to leave, as I like to say. Your words are, always, a catalyst for me. Thank you. 🙏
Love this story. Only way is to build a business.
The most engaging writer out there. Quality content written really really well. Thanks
This comment made my day. What part did you find most helpful?
Tim is the master at emotion and scroll-stopping images. What a pro
Icon
What do you mean?
Unfortunately, I had the mindset of just paying bills for many years; and finally, I am developing the mindset of financial freedom and FU money.
We all start there. What made you change?
My age made me realize I don't have the time I thought I had and finally becoming a critical thinker about everything I have ever been taught.
I hit FU money a few years ago. If I had to put a number on it, for me it's about a year's worth of living expenses in savings, non-retirement liquid-ish assets that will get you through another 5 years, and enough in your retirement accounts that if you don't add another penny and the market just does its thing, you can afford to retire in your 60s (us FIRE folks call this CoastFI). I haven't been an employee since 2002, and I've never made 6 figures. It's always been about my quality of life, not the label on my bag/car/jeans.
Most people feel the FU part without the 5-year padding, and you will know that you've reached it when you stand up to your boss about anything uncomfortable, because you know the worst thing they can do is sack you, and you know you'll be totally fine.
My hero, good and glad for you. This is where lowering expenses as much as possible has such a profound and compounding impact.
May I ask, if time permits, what’s non-retirement liquid-ish assets? Are you referring to things like gold, stocks, bonds, GICs, etc on a non registered account? A paid for home?
I do have the year long expenses savings doubly covered on a high yield savings bank account (4%)… only that was a “sleep like a baby” milestone.
But I definitely do not have said 5-years extra padding on assets and the retirement accounts are an ongoing battle (just maximizing employee match for now).
You are doing GREAT! I define "liquid-ish" as anything that can be turned into cash within a few weeks. Most of mine is in a regular brokerage account (ETFs, stocks) and penalty-free bonds.
And you are SO right about the upside of lowering expenses. My mother and I decided to buy a house together 18 months before she retired 9 years ago. We both love knowing that if something happened to the other, one of us could handle all expenses without struggling.
Somehow notifications went on disabled. Just wanted to mention a thanks for the follow-up and liquid asset further clarification.
On the joint efforts family home: I did the same with a sister of mine, but we just rent it. The thought was exactly the same plus giving an extra juicy down payment making mortgage payments quite easier.
Some years later she used that existing real state as extra proof of funds for buying her own house for her husband and family.
I am inspired to cut out watching politics and reducing my consumerism. I am inspired to cut my personal and business spending by 30% over the course of Oct. I think I can do just as much with fewer tools and thus less cost. Tim, this is one of the only Emails I ever read top to bottom.
Working towards my F U money every day. I've never owned a new car, never bought a piece of designer clothing. If that's your thing - more power to you. I just want to have my time. Always love reading your content!
Spot on!
If we can become as minimalist as comfortably possible and detach from chasing the next cool status clout thing (McSUV, McMansion, McTrips, etc)… the savings start piling up, free time starts to be available, life just becomes lighter.
Not saying to never do, buy or enjoy any of those things… but do we really need the latest fancy Tesla or yearly smartphone with max storage? Overly expensive micro apartment in downtown “where all the action is!”?
My realization was that reducing subscriptions, needless expensive activities, debts, etc that would amount to $300 extra savings a month, is a lot easier than trying to get a salary raise that after taxes (and ancillary fees of all sorts) would amount to the same.
I’m not doing enough with that free time though, definitely not engaging in F U money side hustle building.
Investing in my health is the key to having more time, to create wealth. Why I never miss a sunrise. Love the pic of the brides - ever hear of "torches of liberty", marketing campaign created by Ed Bernays?
True wealth is found in faith, not money.
No amount of financial freedom can replace the peace and purpose found in Christ.
Luxury and status fade, but eternal values last forever.
Seek first God's kingdom, and the rest will follow.
Luxury items often distract us from what we truly desire: genuine freedom.
Interesting point about raising how folks will think less of spending $100K a year on a degree program than they do in investing in coaching, masterminds, and other courses. It does make sense to set a budget for this life long learning and invest in yourself. The challenge I find, however, is that finding the right tools to invest in (courses, etc..) is like panning for gold. I think there is a lot of chaff out there amongst the wheat. This last year I've stepped off the corporate hamster wheel and done a shit load of self-reflection and definitely working on my own F-U money.
I think it depends on the domain.
For example in the tech and art world (and the combination of, like video games), for some reason, there’s SO MUCH out there… true gold skillsets knowledge for free or at a steal. Tools that used to be many thousands of dollars a couple of decades ago are free to use now and orders of magnitude more powerful.
The problem here arises from actually being able to choose, parse and act hoping for the best. Else we can easily just learn forever and die as the ultimate expert that never executed in practice.
You are right, but in our societies the value of pursuing these “rewards” is ingrained. Having FU money is indeed about mindset. It’s about knowing what you want to do with your time. Most people don’t know and don’t want to dig deep within themselves to find out. The framework of a nice job and ever bigger salaries, possessions and other things is easy. As it doesn’t involve confronting yourself with what you really want. And step into an unknown future. The golden cage is real.
Good stuff Tom! I personally spend a fair amount on clothes and personal appearance. It's important to me as it keeps me in the line of abundance feeling and thinking as the F U money is made. Do you have any personal spending that you enjoy Tom?