Comment by movedx
2 months ago
You’re describing insurance. And you’re assuming I said you STOP working, when I did not say or imply that.
2 months ago
You’re describing insurance. And you’re assuming I said you STOP working, when I did not say or imply that.
I'm describing insurance not working. I'm explicitly saying you can't assume you'll be able to work the rest of your life. A hit-and-run drunk driver could hit you can run off, and you get paralyzed and your insurance denies your (very expensive) claim. Even if you sue them and win, that could take years before they pay out. $100k ain't gonna go very far.
You’re free to live your life in fear if you wish.
I think it's implied with FUM that you have enough money to not work for the rest of your life. This is because without the need to work you have total freedom to set your schedule.
That’s never how it’s been described to me. That’s always been known to me as FI/RE or just being rich. FUM is simply the ability to walk away from a job and be very picky about where you work.
I do like that mindset as that definition of FUM is much easier to achieve than FIRE. However, I always assumed FUM meant you could be so unlikeable or disagreeable as to be unemployable and still be financially fine.