What's FU Money? Ask JL Collins!

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8 ай бұрын

JL Collins is widely recognized as the "Godfather of FI" (Financial Independence), known for his influential book "The Simple Path to Wealth" and his successful financial blog. His work revolves around the Financial Independence Retire Early (FIRE) movement, advocating for a simple investment philosophy similar to Jack Bogle and Warren Buffett. Collins emphasizes investing in low-cost index funds, smart asset allocation, and strategies for building wealth and achieving financial independence. His approach has been a guiding light for many in the personal finance world.
Key Point:
Understanding the concept of FU Money and how it differs from being fully financially independent.
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Пікірлер: 40

@bobbytheblade2550 5 ай бұрын

I never once thought of FU status until I suddenly realized I was living without a filter. I started speaking my mind - not taking shit. I retired at age 50 and have been living "FU" for 10 years. It's WONDERFUL!

@colinl5985 3 ай бұрын

Living without that filter is a great feeling especially nowadays, maybe same b4, we get shitty bosses and companies!

@joesph9748 3 ай бұрын

For me it means the opportunity to pursue the next path on the journey. We can’t wait for FU money to find peace and happiness. Trust me I know from experience. The current moment is your life. Peace and be well

@bfolds1494 4 ай бұрын

I would call that "No thank you" money. lol

@bobmoe5934 Ай бұрын

I had FU money saved once before I knew what it was. I started to feel the peace knowing I had a year’s worth of expenses saved and I didn’t have to be at work. I made the mistake of spending it on a down payment for some property that’s been a money pit. I’m about to sell a house and down size big time. I’ll have my FU money saved again.

@129audrey 8 ай бұрын

We love Mr. Collins!!!

@JosephDickson 8 ай бұрын

Hasan Minhaj told Kevin O'Leary to shut up and read The Simple Path to Wealth during The Daily Show. It was fantastic.

@JosephDickson 8 ай бұрын

kzfaq.info/get/bejne/f5lgktRnudDFqJ8.htmlsi=Xs5P2yyQso5sTV7T Advance to the 27 minute mark.

@jeepee2 8 ай бұрын

I just found that video and watched it. It was beautiful!

@CaliToTheCrowd 8 ай бұрын

Take a drink every time you hear the word 'money'! For real though, Hat of to JL for al his work in the FI community!

@VagabondWay 3 ай бұрын

Great piece right here!!!!

@BradFinn 8 ай бұрын

Great place to be!

@nettoyageadriance 8 ай бұрын

The OG

@kwokweng76 8 ай бұрын

great explanation of FU money

@PlayingwithFIREco 8 ай бұрын

Maybe the best I’ve heard

@mfpears Ай бұрын

I like how the thumbnail is ambiguous about his attitude. It looks like he could be saying, "FU money is about doing what you want. In fact, F this interview and F U, I'm outta here." But instead he's explaining FU in a really kind and helpful way

@MN-wg8qd 3 ай бұрын

I struggle with FU Money. Goal is 2M and a paid off house. Even with 1.3M and a paid off house, I don't feel much pull. Tech pay is down quite a bit and the job market has been crap for a couple of years. So if you quit or lose your job, sure you won't be starving; and that problem was solved a million dollars ago. Still, the can is kicked down the road and you might not get a job for quite some time and when you do the pay and conditions might be shit. It's a nice concept, but doesn't play so well in reality imo.

@EricBanner571 Ай бұрын

I disagree. FU money is becoming recession proof, not needing an employer for an income ever, leaving your spouse if you are in a bad relationship and of course spending your money on what ever you want with in reason. This does not happen overnight and the amount of hard work and discipline needed generally makes most people spend their money wisely. The biggest fear when getting there is not to F it up.

@KungPowEnterFist 6 ай бұрын

And here is a perfect example of someone who has not reached FI, as he remains forced to produce goods and services in exchange for money he needs to survive. People who are truly FI do not waste their time/energy grinding it out on YT, writing books, seminars, etc. There is really no difference between a job/employment and being self-employed. In either case, you are forced to spend time/energy producing goods and services for other people to get the money you need to survive. And you can think this guy's definition of FU money is the truth. That's not FU money. FU money is when you know for sure you are FI and will never have to go back to being a slave.

@PlayingwithFIREco 6 ай бұрын

I know him personally, he’s not forced to do anything. He chooses to participate in sharing the tenets of FI because he believes in it and enjoys it. You can have FU money and still be productive, in fact, it’s highly encouraged.

@Davidnprogress2 5 ай бұрын

FI to me is about doing what you want to do vs what you have to do. Many FI people still do things that result in an income. But, the primary goal is the joy of community and the reward of producing something that brings value to the world

@KungPowEnterFist 5 ай бұрын

@@Davidnprogress2 Shoveling horse manure is shoveling horse manure. What this author, channel and you are describing is self-employed vs employed. And that is fine. Being self-employed is an option for a small number of people. Truth is that it works out for almost no one, but every other three blue moons someone in the world succeeds at it. You know, like winning the lottery. So be clear in your message that the pitch here is to try and win the lottery one day.

@Davidnprogress2 5 ай бұрын

@@KungPowEnterFist Well, I am FI. No lottery. No high income. Just good ol' live below your means and save over a long period of time. It is not rocket science. What JL Collins promotes works. FU money provides a mindset that makes you better both when working and not.

@ElChocoLoco 5 ай бұрын

You clearly have no idea who he is, or what you're talking about. Educate yourself before spouting nonsense.