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RE: Fuck you money - my bitcoin gains... Donations at Christmas to local Thai Vendors - tonight I am broke, ya ran out of money giving it away!

in #bitcoin3 years ago (edited)

Fuck you money is a fancy way of saying enough money that you're completely financially independent.

In other words, you can say "fuck you" to an employer or a business proposition and it won't affect your living standards noticeably.

To try to put it in more financial terms, distinguishing between a stock and a flow, it means that you have enough liquid assets that they produce enough income from those assets to live on without depreciating or risking the principal. And maybe have some extra to splash on goodies (we're in fuck you territory here, after all).

In the United States, what's generally considered affluent is a family income of $250K/year, because after that if your tax burden changes it's "tax cuts for the rich."

That gives us a target. Right now (and for the foreseeable future), Treasuries yield 0%. But let's assume that a basket of bonds and dividend-paying blue-chip equities would be safe and could yield, say, 3%. (Maybe you could get more, and if so that's gravy, but let's be conservative here.)

So if you need enough money that yielding 3% will give you an income of $250K/year, that means you need $250K * 33.3 = $8,333,333.33. Let's round it to 10 so you can buy a house and a BMW (and maybe angel invest -- and don't be a dick, donate to charity).

So there you go: fuck you money is officially and scientifically 10 million dollars (after taxes, in the bank).

To anyone out there with stock options, get to your spreadsheets...

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Thanks for explaining this. I am diversifying my fuck you money into multiple countries as well. Sad we just can't trust anyone these days not your banks, companies or governments.

The friend had a question if he answered, I have some bitcoin, if I sell it now, then what will be profits or loss? What would be better if Bitcoin kept it for the future. Please help me, it would be very beneficial if I knew it.... ? @greenman

I would only sell bitcoin if you needed the money for food and shelter. I believe it is the trust system of the future so I am holding.

You have told the truth about Bitcoin. I was telling my friends to sell Bitcoin,
I told them, as long as there is no big problem, I will not sell Bitcoin.
I'll submit it for the future. Which will be seen in the future.
If I keep Bitcoin stored for the future, then the price of Bitcoin will get bored?
I thank you again .... @greenman

yes i agree bitcoin is a trusted coin so we can hold it for future n also merry Christmas have nice day lol resteem n upvoted nice post.

Money is all of things Some poor man...
They could Not Found any sourse To earn Money..
They work hard every single day...

tnx for upvote and resteem