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View Poll Results: What is your 'bare minimum' FU Money to walk out of your miserable job?
$25,000 - $50,000 7 7.29%
$51,000 - $100,000 2 2.08%
$101,000 - $200,000 6 6.25%
$201,000 - $300,000 4 4.17%
$301,000 - $500,000 7 7.29%
$501,000 - $750,000 27 28.13%
Others 43 44.79%
Voters: 96. You may not vote on this poll

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Old 03-03-2016, 08:25 AM   #41
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Quote:
Originally Posted by Sarah in SC View Post

But I generally have an emergency fund of about 3 months of living expenses all of the time, so there's that.
Im 33, wife is 32 and we have a 10+ years ER at the moment. (saving for a house) I still wouldnt feel comfortable walking away from a job without having a new one. I wouldnt have the slightest idea how long it would take to find a new one. That simply means I would be removing money from my ER that I will have to someday replenish.

Most users on these forums want to retire early...leaving a job without having a new one isnt very smart. Even if a job sucks most people can bs there way through it a couple weeks doing very little and still hold on to it.

To answer the OP's question...it would have to be when im ready to retire. Somewhere between 1.5 - 2 million...although I would hope its north of that when the time comes to call it quits. The easiest time to find a job is when you have one!
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Old 03-03-2016, 10:17 AM   #42
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I agree with Options. Except for the bolded. Having FU money in place allows me to mentally accomplish the other items listed. And, yes, I have used my FU option.

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Originally Posted by Options View Post
Research has shown that managers/supervisors have the most stress in an organization: they are "sandwiched" between the directives from above and the people they supervise. It's not easy supervising, for a number of reasons.

My ex (very good) boss and I used to say if you haven't had at least one bad boss in your career there's something wrong with you. OTOH, Brian Tracy says you can make more progress in your career in one year under a good boss than in five under a bad boss. I saw this so many times I stopped paying attention.

IMO, focusing on "f/u" $ is a mistake. Viewing work this way demonstrates you're taking your career personally, instead of strategically. A million things can go wrong with a job: you lose it without warning because company merges, restructures, a new CEO with much fanfare launches an "exciting new direction" (read: layoffs) the company is taking (which turns out to be fruitless after a few years and his/her several hundred $ golden parachute), your good boss leaves and you get one whose head never leaves a very dark place, your job is eliminated--even one of your so-called "stakeholders" could make life miserable for you.

The key is, if you have personally identified goals and are working on/towards them--the organization and all of its dysfunction will disinterest you. Focus on where you're going, not where you are leaving. You could ask yourself some important questions like: what's the opportunity in this situation and how can I use what's going on to my advantage?; what's my next miracle gonna be?; a year from now how will I be proud of how I handled this situation? Then get busy creating your next awesome job/best-boss-ever situation. I know this works because it is exactly what I did.

Viewing bad work situations from the perspective of what's next for you will allow all the crummy (and quite meaningless) stuff to flow through you like water. Yes, even that bossfromhell will sound like a wah-wah Charlie Brown character because you have made the situation insignificant (once you've realized there's nothing constructive you can do to fix it, of course).
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Old 03-03-2016, 07:16 PM   #43
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Just because you tell your boss 'FU', does not mean you can't get a job very soon.


Quote:
Originally Posted by Options View Post
Research has shown that managers/supervisors have the most stress in an organization: they are "sandwiched" between the directives from above and the people they supervise. It's not easy supervising, for a number of reasons.

My ex (very good) boss and I used to say if you haven't had at least one bad boss in your career there's something wrong with you. OTOH, Brian Tracy says you can make more progress in your career in one year under a good boss than in five under a bad boss. I saw this so many times I stopped paying attention.

IMO, focusing on "f/u" $ is a mistake. Viewing work this way demonstrates you're taking your career personally, instead of strategically. A million things can go wrong with a job: you lose it without warning because company merges, restructures, a new CEO with much fanfare launches an "exciting new direction" (read: layoffs) the company is taking (which turns out to be fruitless after a few years and his/her several hundred $ golden parachute), your good boss leaves and you get one whose head never leaves a very dark place, your job is eliminated--even one of your so-called "stakeholders" could make life miserable for you.

The key is, if you have personally identified goals and are working on/towards them--the organization and all of its dysfunction will disinterest you. Focus on where you're going, not where you are leaving. You could ask yourself some important questions like: what's the opportunity in this situation and how can I use what's going on to my advantage?; what's my next miracle gonna be?; a year from now how will I be proud of how I handled this situation? Then get busy creating your next awesome job/best-boss-ever situation. I know this works because it is exactly what I did.

Viewing bad work situations from the perspective of what's next for you will allow all the crummy (and quite meaningless) stuff to flow through you like water. Yes, even that bossfromhell will sound like a wah-wah Charlie Brown character because you have made the situation insignificant (once you've realized there's nothing constructive you can do to fix it, of course).
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Young & Not Enough Nest Egg - What's your minimum FU Money ?
Old 03-06-2016, 05:47 PM   #44
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Young & Not Enough Nest Egg - What's your minimum FU Money ?

All I know is, the more FU Money I have, the more confident I am to walk, if needed. Saving up more and more months, then years worth of expenses, and avoiding debt and financial entanglements gives one confidence and security, whether one ever actually uses it or needs it or not. If you ever do deploy your FU Money, it is probably best to say the words silently to yourself but say out loud that you are leaving to explore some specific opportunity or passion.
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Old 03-07-2016, 10:39 AM   #45
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To be clear (and as I've posted before), the world of work is rapidly changing, and in my view, at least in the short term, not for the better for anyone who is currently working:

The Robots Are Coming € to Take Your Job

Quote:
what we have seen is, for decades now, wages have been stagnant, and even now, as the economy has been recovering and we’ve seen the unemployment rate falling, we haven’t seen anything in terms of wage increases. I do think that technology is probably one of the main forces that’s driving that stagnation of wages. It’s important to note the way that stagnation is happening — even as, over the long run, productivity has continued to increase. We see this decoupling of productivity and wages that really points to this transition that’s unfolding.
Emphasis added

Failing to focus on career/job/work strategically, as opposed to personally, is a mistake, in my view. Anyone in their thirties and forties would be well advised to consider the "brick wall" most workers start hitting once they reach their fifties (an NYT article this weekend covered marginalized older workers in tech, noting the average age of workers in this country is forty-two; average age in tech is twenty-nine).

Walking off a job, unless it's to another job with more money, benefits, long-term opportunities, is unwise. In a boss-from-hell situation (and who hasn't had one?), at the very least strive to get a separation package (a few months salary/benefits in lieu of getting fired) and having your unemployment uncontested. There's simply too much at stake to fail to be methodical in managing all aspects of your career and work life. You can bet the people at so-called "leadership" levels of organizations do it all the time (how else do you explain a failed CEO who does not improve a company's performance during his tenure yet walks out with a $230M severance package?). Why shouldn't you?
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Old 03-07-2016, 04:25 PM   #46
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Originally Posted by Legally_dead View Post
I currently have about $600k in investable assets and I have a little swag at w*ork knowing I could walk out on a moments notice and be okay.
I'm basically in this situation as well. I am less stressed out and put up with less BS and speak up for myself more now simply because I know I'll be just fine if I walked out. Bosses hate this as they want to have leverage on you, which makes me laugh.
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Old 03-16-2016, 02:57 PM   #47
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I just did the "FU I quit" thing on Jan 12th. I had enough of the company culture and didn't like the current direction they were going in, so that Tuesday I walked in, decided that I wasn't going to complete the shift, and proceeded to hand in my security card and keys, and quit. All on principle alone. The look on their face was priceless. They couldn't believe I was walking. The Boss offered to give me a night to think about it and change my mind. They've recently offered me my job back. I declined. That part alone was worth it. Very liberating.

I didn't have another job lined up. 20.5 years with the company, 5 weeks vacation, 30 and out pension, gone! It took me about a month to get another job after spending 2 weeks in Mexico getting my soul back. It was about a 30% pay decrease but with opportunity to get back the pay + within a year or so. Vacations started all over. Bottom of the senority list, etc. It's been an emotional roller coaster as I always thought that I was going to "make" the 30 year pension and just up and quitting was not like me. I think I may have done it just to prove I still has something left in me. I just couldn't handle another 9.5 years in that place. It was THAT bad. Now I'm having some quitters remorse but I'm mostly hopeful that I can stay on track and make a good run of it for the next 10-15 years and still retire early. I'm with a much better company now so that really helps my future outlook.

My financial situation when I walked:

Age 42
S.O. that brings in 75k+/yr
paid off mortgage
no debt
20k in cash
210k in his/her Roth and 401k rollovers

I felt fine quitting with only 20k cash on hand and zero debt, but was mostly concerned with the fact that my "timeline" is now pushed further back unless I save more aggressively to make up for the loss in income with the new job and the month hiatus.
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Old 03-16-2016, 09:46 PM   #48
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Originally Posted by surf n turf View Post
I felt fine quitting with only 20k cash on hand and zero debt, but was mostly concerned with the fact that my "timeline" is now pushed further back unless I save more aggressively to make up for the loss in income with the new job and the month hiatus.
Seems like you still have a lot of levers to pull thanks to your skills, young age, spouse's income, no debt, and other good choices. You could save a ton and FIRE in 10-15 years, as you mentioned, or downsize and amp up savings even more; move to a less expensive area or country; go part time in a few years and extend your time to FIRE; do some entirely other kind of w*rk you discover that is fun enough to not be a huge burden, and other levers. Walking out of a bad situation as you did will also probably help you become more independent and bullet proof psychologically, which are very valuable assets to have that the masses who trudge to prison every day will never know. Bravo, I say.
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Old 03-16-2016, 10:08 PM   #49
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I tip my hat to you sir. At 42, yes you can indeed get other jobs and start fresh.

Don't look back - I know 20 years in a job is a long time and many memories.
It will be hard to shake those 20 years. But thank god, you've got a new job now. It's another journey. Good luck.

Quote:
Originally Posted by surf n turf View Post
I just did the "FU I quit" thing on Jan 12th. I had enough of the company culture and didn't like the current direction they were going in, so that Tuesday I walked in, decided that I wasn't going to complete the shift, and proceeded to hand in my security card and keys, and quit. All on principle alone. The look on their face was priceless. They couldn't believe I was walking. The Boss offered to give me a night to think about it and change my mind. They've recently offered me my job back. I declined. That part alone was worth it. Very liberating.

I didn't have another job lined up. 20.5 years with the company, 5 weeks vacation, 30 and out pension, gone! It took me about a month to get another job after spending 2 weeks in Mexico getting my soul back. It was about a 30% pay decrease but with opportunity to get back the pay + within a year or so. Vacations started all over. Bottom of the senority list, etc. It's been an emotional roller coaster as I always thought that I was going to "make" the 30 year pension and just up and quitting was not like me. I think I may have done it just to prove I still has something left in me. I just couldn't handle another 9.5 years in that place. It was THAT bad. Now I'm having some quitters remorse but I'm mostly hopeful that I can stay on track and make a good run of it for the next 10-15 years and still retire early. I'm with a much better company now so that really helps my future outlook.

My financial situation when I walked:

Age 42
S.O. that brings in 75k+/yr
paid off mortgage
no debt
20k in cash
210k in his/her Roth and 401k rollovers

I felt fine quitting with only 20k cash on hand and zero debt, but was mostly concerned with the fact that my "timeline" is now pushed further back unless I save more aggressively to make up for the loss in income with the new job and the month hiatus.
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Old 03-17-2016, 03:29 PM   #50
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Originally Posted by Markola View Post
Seems like you still have a lot of levers to pull thanks to your skills, young age, spouse's income, no debt, and other good choices. You could save a ton and FIRE in 10-15 years, as you mentioned, or downsize and amp up savings even more; move to a less expensive area or country; go part time in a few years and extend your time to FIRE; do some entirely other kind of w*rk you discover that is fun enough to not be a huge burden, and other levers. Walking out of a bad situation as you did will also probably help you become more independent and bullet proof psychologically, which are very valuable assets to have that the masses who trudge to prison every day will never know. Bravo, I say.
Thanks for the vote of confidence! It's going to be interesting these next few years. First priority is getting my income back to where it was plus some. It will happen but I'm relegated to a "starter" position for about a year and there is no way around it. At least my income has nowhere to go but up from here.
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Old 03-17-2016, 03:36 PM   #51
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I tip my hat to you sir. At 42, yes you can indeed get other jobs and start fresh.

Don't look back - I know 20 years in a job is a long time and many memories.
It will be hard to shake those 20 years. But thank god, you've got a new job now. It's another journey. Good luck.
Thank you! Starting over at 42 can be a little daunting but I was in a position where I had to make the move now or never. And I couldn't live with never, so it's now. I'm planning on making the best of it. It's really gotten me to re-evaluate my personal finances as well as my life direction, goals, and figuring out how I'm going to achieve them with the limited resources that I currently have. It's not on "autopilot" like it was before, but that's ok.
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Old 03-20-2016, 01:54 PM   #52
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I'm gonna beat you to it. I'm starting over at 52.5 yrs old. I'm quitting my job in 5 months, with or without a new job. So, i will be starting all over just like you wish me luck.

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Originally Posted by surf n turf View Post
Thank you! Starting over at 42 can be a little daunting but I was in a position where I had to make the move now or never. And I couldn't live with never, so it's now. I'm planning on making the best of it. It's really gotten me to re-evaluate my personal finances as well as my life direction, goals, and figuring out how I'm going to achieve them with the limited resources that I currently have. It's not on "autopilot" like it was before, but that's ok.
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Old 03-21-2016, 03:13 PM   #53
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I'm gonna beat you to it. I'm starting over at 52.5 yrs old. I'm quitting my job in 5 months, with or without a new job. So, i will be starting all over just like you wish me luck.
That definitely takes some guts to start over at nearly 53. Good luck to you and keep us posted on your progress.
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Old 03-21-2016, 04:18 PM   #54
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My first million was the FU money in my early 30s. But realistically my husband's health insurance was the real FU thing. But I've always lived my life with an FU attitude so I guess it was much lower bar.


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Old 03-21-2016, 05:28 PM   #55
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Thanks for the Good luck! I do have about $680K - $700K liquid assets saved by the time I quit this job (hopefully the stock market will stay on an upward trend in the next 6 months) or I'll end up with only around $650K liquid. Plus I live in a Southern State that is low cost. I applied for jobs already, and hey - I might just get an offer very soon.

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That definitely takes some guts to start over at nearly 53. Good luck to you and keep us posted on your progress.
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Old 03-22-2016, 11:30 AM   #56
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so for me there are two different issues.

I have had a job like you described, worked for someone in an Asian embassy who felt that woman where beneath him. Kept asking me how come my husband hadn't gotten me pregnant yet. it was horrible. I left with no savings and no job when I got violently sick at the job and turned out I had an ulcer and other issues all related to stress.

Now I didn't have kids at the time but imo, absolutely no job is worth my health and well being and as I got older and had more life changing experiences, the more I came to mean that.

so to answer you're question, if I'm in a toxic environment, I'm outta there. no money or lots of money.

let me ask you, if some one was physically poisoning you, would you wait around until you have 50K to get away from that person?? IMO a toxic work atmosphere is just as bad.
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Old 03-22-2016, 11:31 AM   #57
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I'm gonna beat you to it. I'm starting over at 52.5 yrs old. I'm quitting my job in 5 months, with or without a new job. So, i will be starting all over just like you wish me luck.
Good for you. Cyber!! Go for it!!
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Old 03-22-2016, 06:30 PM   #58
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...absolutely no job is worth my health and well being and as I got older and had more life changing experiences, the more I came to mean that.
I was fortunate to learn this at an early age just out of high school, unloading trucks at a then-major regional department store. It was the most petty, bickering, backstabbing place I ever worked and I was laughing when I quit. A valuable lesson learned - the people you work with can make or break even the most menial job.

And I can't help but wonder if that isn't a reason that chain later went bankrupt.
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Old 03-22-2016, 08:06 PM   #59
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Thanks! I'm glad you value your health more than your job. A lot of people stress out too much from high stress jobs, and get sick. My colleague was too frustrated with our new boss a few years ago - and he had a lot of anger built-in and he developed irregular heart beats. So, he had 2 operations. While he has enough money to retire (he is 62), he won't - he's just too scared that more heart operations will be too costly and insurance may not cover it. His last operation cost $900,000. Crazy.

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Good for you. Cyber!! Go for it!!
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Old 03-26-2016, 09:05 AM   #60
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I've been thinking about this a lot lately because my division of MegaCorp has re-orged and it is going very badly. My bosses' boss left the company pretty much as soon as he found out the general outline of the re-org. My direct boss transferred to another department about a month into it.

Just about everyone is at a loss as to how this is ever going to work, and I'm expecting the exodus of people to start pretty soon. I think everyone is in a wait and see mode, but I don't see a path to a functional organization with the current leadership in charge.

I keep thinking about the adage that you want to be the first person off the sinking ship, not the last.

Time to get that resume up to date and start reaching out to my contacts at other companies.
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