temperament
F-You Money
The rule
A pot of savings big enough to say no and walk away.
Where it flips
Waiting for a giant fund can become an excuse to never take a good risk. The repair is to know that even a small cushion buys some freedom; start using it.
Save and invest till you have a fund you can live off for a while. That fund is not for buying things. It is for freedom. When you can walk away from a bad job or a bad deal, you stop being scared. The first job of your savings is to give you the power to say no.
A worked example
Rohan keeps 12 lakh invested, enough for two calm years. When his boss shouts, he does not panic; he can leave and still eat. [illustrative]
How to spot it
- ·You stay in a bad job only for the salary
- ·One missed paycheck scares you
- ·You never feel free to say no
J. L. Collins · The Simple Path to Wealth