Photo: AP Photo/Denis Farrell
Everyone on Wall Street knows what F-U money is, but they don’t really how much it is.What it is: A sum of money you receive to walk away and never look back.
Now, how much is it?
We found a humorous answer in a new book called Family Fortunes: How to Build Your Wealth and Make it Last for 100 Years, by Bill and Will Bonner — They’re a father and son who’ve spent years advising people on how to make their money last through letters and investments.
So, back to the question. How much is F-U money?
William Faulkner gives us a hint. When he was fired from being postmaster of Laurel, Mississippi…he said he felt liberated: “I reckon I’ll be at the beck and call of folks with money all my life but thank God I won’t ever again have to be at the beck and call over every son of a b*tch with a 2 cent stamp.”
F- money is the money you need so you won’t be at the beck and call over every son of a b*tch with a 2 cent stamp. It is the amount of money you need to be free. It could be a lot or a little, depending on your ambitions. But it is the money you need so that you can do what you want.
Maybe what you want to do is move to Argentina and party in Buenos Aires on the cheap. Maybe you want to start your own company (Michael Bloomberg style).
Either way, the point is what you don’t want to do is answer to just anyone.
Business Insider Emails & Alerts
Site highlights each day to your inbox.