Author Topic: Epic FU money stories  (Read 504427 times)

Northwestie

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Re: Epic FU money stories
« Reply #1250 on: August 31, 2016, 11:53:45 AM »
@FunkyStickman - FYI - That picture is enough to figure out the company.  I have no interest or industry knowledge, but would take it down if you really don't want the company to be identifiable.   Good luck with everything.

I'm not that worried about it... I have "FU" money in the bank. ;)

:) Best of luck - keep us posted!!

onlykelsey

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Re: Epic FU money stories
« Reply #1251 on: August 31, 2016, 12:06:08 PM »
@FunkyStickman - FYI - That picture is enough to figure out the company.  I have no interest or industry knowledge, but would take it down if you really don't want the company to be identifiable.   Good luck with everything.

I'm not that worried about it... I have "FU" money in the bank. ;)

I don't think I'd want to spend my FU money on potentially getting sued, though.  I'd check your employment Ks to see what you're allowed to reveal publicly and what the results are of violation.  I bet it's very strongly drafted in their favor.

FunkyStickman

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Re: Epic FU money stories
« Reply #1252 on: August 31, 2016, 12:20:36 PM »
Funky, you may want to remove that photo. About 5 minutes of Google netted the likely company you work for and location you work at... Or at least block out the ranking.

Crap.. I don't see the option to remove it.
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FunkyStickman

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Re: Epic FU money stories
« Reply #1253 on: August 31, 2016, 12:24:01 PM »
Couldn't see a way to remove the attachment, just deleted the post.
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PriestTheRunner

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Re: Epic FU money stories
« Reply #1254 on: August 31, 2016, 01:42:27 PM »
Posting to follow... 

Also, I've got a good story baking as I type this.  Once the dust settles I will post up the results.  :)
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arebelspy

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Re: Epic FU money stories
« Reply #1255 on: August 31, 2016, 04:23:08 PM »
Couldn't see a way to remove the attachment, just deleted the post.

I got you.

Feel free to go back and edit anything else you want, but I think that's all the identifying stuff.  Left the question about take the package now vs. try to stay.

I'd take the package.  ;)
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FunkyStickman

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Re: Epic FU money stories
« Reply #1256 on: August 31, 2016, 04:52:30 PM »
Couldn't see a way to remove the attachment, just deleted the post.

I got you.

Feel free to go back and edit anything else you want, but I think that's all the identifying stuff.  Left the question about take the package now vs. try to stay.

I'd take the package.  ;)

Dude, thanks, I owe you one.

And yes, I'm seriously considering it, especially if I get demoted back to working on the factory floor assembling machines.
"There is no dignity quite so impressive, and no one independence quite so important, as living within your means." -Calvin Coolidge

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Zaga

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Re: Epic FU money stories
« Reply #1257 on: August 31, 2016, 06:38:01 PM »
I worked for a food giant that offered a "go away" package a few years ago.  I haven't regretted taking it for a second!

Exhale

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Re: Epic FU money stories
« Reply #1258 on: August 31, 2016, 07:00:19 PM »
Asshair#2 is a combo-creature of someone I'll call Agnes - my group's test manager - and a 300lb silverback diesel-dike test-lead I'll call Luna.
Why is that relevant? Also, the term is "dyke" unless your talking about a geographical feature.
I saw that and thought it was some random car-speak that I didn't understand.

No, it isn't car speak. It's a homophobic insult and, given the "300lb" comment, a fat phobic slur as well. Notice that the OP didn't comment on the sexuality or weight of any of the other managers, only the one assumed to be a masculine lesbian and considered to weigh 300 lbs.
« Last Edit: August 31, 2016, 07:02:05 PM by Exhale »

nobodyspecial

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Re: Epic FU money stories
« Reply #1259 on: August 31, 2016, 08:50:00 PM »
It's a homophobic insult
Not anymore, the US Patent and Trademark Office ruled that it isn't offensive
http://www.nclrights.org/press-room/press-release/trademark-office-says-yes-to-dykes-on-bikes/

mtn

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Re: Epic FU money stories
« Reply #1260 on: September 01, 2016, 08:39:11 AM »
My dads company was bought out about 1.5 years ago. After finding out what the buying company usually did for the severence package of purchased company's, he was really kinda hoping to get cut--it was 1 week pay for every year you had been at the company. He'd effectively been at the company for 28 years.

Alas, he didn't get the buyout. His manager told him he was nuts if he thought they were going to let him go, "you're too valuable".

PhrugalPhan

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Re: Epic FU money stories
« Reply #1261 on: September 01, 2016, 09:15:24 AM »
Alas, he didn't get the buyout. His manager told him he was nuts if he thought they were going to let him go, "you're too valuable".
When you're that close to retirement anyway, if I was told that I would start considering ways to become less "valuable".

mtn

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Re: Epic FU money stories
« Reply #1262 on: September 01, 2016, 09:19:12 AM »
Alas, he didn't get the buyout. His manager told him he was nuts if he thought they were going to let him go, "you're too valuable".
When you're that close to retirement anyway, if I was told that I would start considering ways to become less "valuable".


Bonus incentives would make that a pointless exercise.

He definitely has started going in later, leaving earlier, and working from home on Fridays.

mm1970

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Re: Epic FU money stories
« Reply #1263 on: September 01, 2016, 12:05:38 PM »
Asshair#2 is a combo-creature of someone I'll call Agnes - my group's test manager - and a 300lb silverback diesel-dike test-lead I'll call Luna.
Why is that relevant? Also, the term is "dyke" unless your talking about a geographical feature.
I saw that and thought it was some random car-speak that I didn't understand.

No, it isn't car speak. It's a homophobic insult and, given the "300lb" comment, a fat phobic slur as well. Notice that the OP didn't comment on the sexuality or weight of any of the other managers, only the one assumed to be a masculine lesbian and considered to weigh 300 lbs.
Well then that's horrible.  One of my best friends is a lesbian and overweight (though not 300 lb).  I guess I assume most people are beyond insults of this kind.  I should know better.

(The word "diesel" threw me off.)

Mother Fussbudget

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Re: Epic FU money stories
« Reply #1264 on: September 01, 2016, 03:08:30 PM »
Asshair#2 is a combo-creature of someone I'll call Agnes - my group's test manager - and a {redacted} test-lead I'll call Luna.

Why is that relevant? Also, the term is "dyke" unless your talking about a geographical feature.
I saw that and thought it was some random car-speak that I didn't understand.

Apologies all around.  It bothered me more than anyone, and was poor attempt to be descriptive, and instead came off as offensive.  I've updated the OP to indicate the effect of the behavior - this Asshair's unwavering vehement and consistent prejudice against men (misandrist).  It was a large factor, but one I could not address, mention, or even acknowledge within the office political environment without giving the perception of being a white-male misogynist insensitive anti-feminist.  (Hopefully none of which could ever be used to validly describe *this* Mother Fussbudget)

I've updated original post, but it would require a MOD to edit quotes by others
« Last Edit: September 01, 2016, 03:34:32 PM by Mother Fussbudget »



G-dog

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Re: Epic FU money stories
« Reply #1265 on: September 01, 2016, 03:37:22 PM »
Asshair#2 is a combo-creature of someone I'll call Agnes - my group's test manager - and a {redacted} test-lead I'll call Luna.

Why is that relevant? Also, the term is "dyke" unless your talking about a geographical feature.
I saw that and thought it was some random car-speak that I didn't understand.

Apologies all around.  It bothered me more than anyone, and was poor attempt to be descriptive, and instead came off as offensive.  I've updated the OP to indicate the effect of the behavior - this Asshair's unwavering vehement and consistent prejudice against men (misandrist).  It was a large factor, but one I could not address, mention, or even acknowledge within the office political environment without giving the perception of being a white-male misogynist insensitive anti-feminist.  (Hopefully none of which could ever be used to validly describe *this* Mother Fussbudget)

I've updated original post, but it would require a MOD to edit quotes by others
Thanks for the follow-up and apology. Gold. Star.

Mother Fussbudget

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Re: Epic FU money stories
« Reply #1266 on: September 01, 2016, 04:53:25 PM »
As for "Asshair #3"... the big internal debate has been:  Should I admit to this, or does it qualify as the biggest "Anti-Mustachian Hall Of Shame" post to date?  Not a boss...  not even someone I worked with.  Someone who sought me out, and who I was vulnerable to due to having FU money.  But the FU money I'm talking about was the kind that made me doubt whether I was capable of handling the large amounts involved, and whether my DIY investing philosophy of "invest in what you know, and what let's you sleep at night" was still a wise game plan.   A cautionary tale to say the least.  Could others learn from it?

In hindsight, I should have listened to myself, and NOT hired a "Financial Advisor", and I caution others against the same.  If you have a game plan that's working - STICK WITH IT.  Don't convince yourself that you need outside advice just because your account goes over an arbitrary amount where you're paying more than your current FI number just to pay the TAXES.  so... here, or anti-mustachian wall of shame?



Cherry Lane

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Re: Epic FU money stories
« Reply #1267 on: September 01, 2016, 09:50:23 PM »
As for "Asshair #3"...

 so... here, or anti-mustachian wall of shame?

I vote here, since it keeps the series together, even if the story itself would be more appropriate over there.

MoseyingAlong

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Re: Epic FU money stories
« Reply #1268 on: September 02, 2016, 01:31:36 AM »
Hi,

Not an epic story but personally satisfying.

I find my work very rewarding (challenging, meaningful, like my coworkers, still learning, generally fascinating what happens during surgery). However the long shifts, lots of "on call"time and very limited vacation time plus having to "ask" for permission to take time off got old fast. So for a few months I asked about going part time. We're short staffed so kept getting the response of "we're not cutting anyone's hours, let's talk again when we have more people."

Finally I said F... it and gave notice saying on xx date, I'm resigning my full time position but would like to continue on a per diem basis. They went with it (see part about being short staffed). It's been marvelous, minimal required shifts but can basically sign up for as many as I want, no call requirements and I tell them my availability, not ask when I can take off. So much more control over my schedule but still get to do work I really enjoy (when I want to be there).

Being FI and not needing the pay or the benefits made it a much easier call.  I wish that position of power for everyone.

Cheers

MandalayVA

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Re: Epic FU money stories
« Reply #1269 on: September 02, 2016, 03:22:30 AM »
I've posted a few mild FU stories... I have a feeling my best one is coming soon.

Our factory (small agriculture manufacturing facility, part of a huge global brand) just got the news that they're moving 60% of our product to Brazil, and laying off 100+ people, including 20 salaried folks (some of which have been here for over 25 years) and 20% of our wage workers (of which I am one).

Absolutely everybody is freaking out about it. Except me.
We have to go through routine performance reviews, of which I always give canned answers. Cause I Just don't give a crap.

Last week, my boss (who should have been laid off) was asking me about where I wanted to go in the company, and why our department got bad reviews for development/promotion opportunities.

He says "Well, what's your plan with the company?"
I said "I'd be perfectly happy sitting at home, writing novels for a living. I know I'm not ever going to get a promotion, because Dave killed himself going to night school to get a degree, and he gets dumped on and passed over for everything. You think I'd have a chance? Not even interested."

I'll keep the faithful Mustachians updated on my FU progress if/when it goes down.

Substitute "office" for factory and "Philippines or India" for Brazil, and that's my situation, except I'm definitely getting laid off.  Or, as I like to think of it, set free.  :D
"When the going gets weird, the weird turn pro."  Hunter S. Thompson

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PriestTheRunner

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Re: Epic FU money stories
« Reply #1270 on: September 02, 2016, 08:31:20 AM »
Substitute "office" for factory and "Philippines or India" for Brazil, and that's my situation, except I'm definitely getting laid off.  Or, as I like to think of it, set free.  :D

Congratulations!

(Only in this forum could I say that)
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EnjoyIt

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Re: Epic FU money stories
« Reply #1271 on: September 02, 2016, 12:56:05 PM »
Hi,

Not an epic story but personally satisfying.

I find my work very rewarding (challenging, meaningful, like my coworkers, still learning, generally fascinating what happens during surgery). However the long shifts, lots of "on call"time and very limited vacation time plus having to "ask" for permission to take time off got old fast. So for a few months I asked about going part time. We're short staffed so kept getting the response of "we're not cutting anyone's hours, let's talk again when we have more people."

Finally I said F... it and gave notice saying on xx date, I'm resigning my full time position but would like to continue on a per diem basis. They went with it (see part about being short staffed). It's been marvelous, minimal required shifts but can basically sign up for as many as I want, no call requirements and I tell them my availability, not ask when I can take off. So much more control over my schedule but still get to do work I really enjoy (when I want to be there).

Being FI and not needing the pay or the benefits made it a much easier call.  I wish that position of power for everyone.

Cheers

Kudos to you.  I see this all the time in the healthcare industry.  Often times going per diem also give you a higher pay since the company is not providing benefits anymore.  This works great if the spouse has good benefits at their job.

MandalayVA

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Re: Epic FU money stories
« Reply #1272 on: September 04, 2016, 11:57:26 AM »
Substitute "office" for factory and "Philippines or India" for Brazil, and that's my situation, except I'm definitely getting laid off.  Or, as I like to think of it, set free.  :D

Congratulations!

(Only in this forum could I say that)

And only in this forum could I write that!  My forty-some-odd soon-to-be-former coworkers are pretty much all OH SHIT while this is the only place I can go WOO HOO!
"When the going gets weird, the weird turn pro."  Hunter S. Thompson

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thriftycanadian

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Re: Epic FU money stories
« Reply #1273 on: September 04, 2016, 06:01:15 PM »
Got laid off last year from a job that I enjoyed - after a few months found another job that I thought that I was going enjoy. Ended up being micromanaged - hated it and quit after 6 weeks.  Just went into my managers office and said "I am done" - interesting look on his face.

fredbear

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Re: Epic FU money stories
« Reply #1274 on: September 05, 2016, 02:07:56 PM »
This being said, I have never seen a story about using that FU money. Please, share your stories!!

I guess this is my story, but it could not have been as satisfactory without my former supervisor.  To set the stage, what turned out to be my final job was publishing, and all of the books required a CD and a website. This extra, non-paper stuff was the responsibility of the technology managers.  We all worked for one woman, and we were arranged by discipline: psychology, statistics, Spanish, sociology, advanced math, English, etc.  I was kind of a mule - when anyone quit or took maternity leave or there was an organizational change, I got that discipline until it was straightened out, so there was not a time during the last 3 years when I wasn't doing 3 jobs, and sometimes up to 5.  Like all the others, I really liked working for her.  She was clear with us, was technically sharp, instituted smart reporting techniques, respected us, backed us.  A manager.  On the other hand, I was a sort of Ur-mustachian, and had built up more than just FU money by then, though I had never thought about it in that way.  One saved.  One invested.  It was a thing which was done.  Thank you Jim Collins and James Clavell, for the concept.

It came to pass that some of the editresses decided to get her moved out, and pulled it off just before one of our weekly conference calls.  Not good.  She told us about her job shift (basically, into the rubber room), and began to sob.  All of us who reported to her were stunned.  What would happen without her?  It had occurred, I think, because the VP was one of those men - we are legion - who are afraid of women.  The editresses mobbed him, forcing her out.  One of them because our new manager.

The new supervisor shamed me publicly and I called my old supervisor to ask if the new one was hunting my head.  She said, "Yes.  At least to the extent that she announced she was after you at a staff meeting."  So I asked her to take a message up, and she agreed.

"I'm going to quit.  Not negotiable.  Negotiable: they can have a good transition, or a bad one." 

"Good transition?"

"I train my successors in each discipline.  I keep all the projects for my disciplines going - attend the kick-off meetings, start the projects for the newest books, keep the others up to their milestones, come in on time with the ones due to publish, stay around as long as they want and do as much as they want, until they are ready to replace me.  And they pay me severance."

"Right.  Severance.  Now.  Bad transition?"

"I take the three weeks of vacation I'm owed, and when I come back, they get a CD-ROM of work records." 

"I'll see the VP and get back to you."

He took the good transition.  And she also told me, "If you need any testimony, let me know."  I didn't know what she meant until I looked into unemployment and found there is a category called "unreasonable supervision."  If the company contests paying it you can present evidence that unreasonable supervision was used to force you out, which is a form of involuntary termination and therefore covered by unemployment.  (They didn't contest it.)

I had a meeting with K, the only really smart HR person I ever worked with.  I liked her, but it was one of those elective disaffinities Emerson didn't write about: I never sensed she could stand me.  At the meeting she was pissy.  Finally I said, "K, you're pissy.  Want to tell me what's wrong here?"

"Well, you quit.  You quit!  And we're paying you severance.  We never do that.  I've never heard of that."

I told her, "As I see it, there are two ways of looking at this.  The first is that the company and I both saw this situation as adults committed to getting the work done as smoothly as possible, without stoppages or getting books bumped out of the print queue,  while getting new people on line.  Ordinary flow of business.  I was going to go, and we are making my going as smooth as we can."

"And the other way of looking at it?"

"It was a cheap act of corporate extortion and I pulled it off."   


Taran Wanderer

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Re: Epic FU money stories
« Reply #1275 on: September 05, 2016, 02:35:27 PM »

"It was a cheap act of corporate extortion and I pulled it off."

Awesome!  Thanks for the belly laugh!

Shane

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Re: Epic FU money stories
« Reply #1276 on: September 05, 2016, 03:11:56 PM »
Thanks for the good story fb!

aperture

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Re: Epic FU money stories
« Reply #1277 on: September 05, 2016, 03:25:50 PM »
loved the story Fredbear - congrats on your elegant departure. -Aperture.

okits

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Re: Epic FU money stories
« Reply #1278 on: September 05, 2016, 03:29:31 PM »
"It was a cheap act of corporate extortion and I pulled it off."

High five, fredbear!  What a treat to read on Labour Day.  I hope K respected the hell out of you after that honest discussion.  :)
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arebelspy

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Re: Epic FU money stories
« Reply #1279 on: September 05, 2016, 05:26:53 PM »
"It was a cheap act of corporate extortion and I pulled it off."

Well done!

And great writing. Enjoyed reading that.  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

fredbear

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Re: Epic FU money stories
« Reply #1280 on: September 05, 2016, 07:46:49 PM »
Enjoyed reading that.  :)

Thank you; I enjoyed living it.  I am ashamed to say there were too many times when I was young and stuck around to be abased, because I thought I would starve my small family if I stood up for my dignity. 

I think I have seen your username.  Were you on prospers.org?  Or the original prospers, before so many were undone, and cast into Outer Darkness?

RWD

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Re: Epic FU money stories
« Reply #1281 on: September 05, 2016, 09:03:59 PM »
Enjoyed reading that.  :)

I think I have seen your username.  Were you on prospers.org?  Or the original prospers, before so many were undone, and cast into Outer Darkness?

Hmm... avatar matches signature.    /detectivework

I also read the prospers.org forums, mostly to follow Fred93. I never made an account though...

arebelspy

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Re: Epic FU money stories
« Reply #1282 on: September 05, 2016, 10:51:32 PM »
Enjoyed reading that.  :)

Thank you; I enjoyed living it.  I am ashamed to say there were too many times when I was young and stuck around to be abased, because I thought I would starve my small family if I stood up for my dignity. 

I think I have seen your username.  Were you on prospers.org?  Or the original prospers, before so many were undone, and cast into Outer Darkness?
I was indeed. I was on the Black Friday conference call, in fact.   :)

(Was a mod on Prospers.org for awhile as well, but been a long time since I've been over there.)

Where you on this same username?  Feel free to PM if you don't want to post.  :)
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

HappyMargo

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Re: Epic FU money stories
« Reply #1283 on: September 06, 2016, 12:30:40 AM »
Hi,

Not an epic story but personally satisfying.

I find my work very rewarding (challenging, meaningful, like my coworkers, still learning, generally fascinating what happens during surgery). However the long shifts, lots of "on call"time and very limited vacation time plus having to "ask" for permission to take time off got old fast. So for a few months I asked about going part time. We're short staffed so kept getting the response of "we're not cutting anyone's hours, let's talk again when we have more people."

Finally I said F... it and gave notice saying on xx date, I'm resigning my full time position but would like to continue on a per diem basis. They went with it (see part about being short staffed). It's been marvelous, minimal required shifts but can basically sign up for as many as I want, no call requirements and I tell them my availability, not ask when I can take off. So much more control over my schedule but still get to do work I really enjoy (when I want to be there).

Being FI and not needing the pay or the benefits made it a much easier call.  I wish that position of power for everyone.

Cheers

Maybe not an Epic story... but you're still my hero!

I've been mulling this very same career move over in my mind for quite a while now.  Love all the up-sides of Per Diem work (especially the "no call" & ability to pick/choose work days, allowing random long weekends with my DH for camping trips) but I'm still a bit nervous re: the uncertain income part.  "What if I don't get enough hours??"  Which, I think in reality, basically wouldn't happen because of a shortage of qualified OR personnel.  It's just fear holding me back.

However, I've selected a certain $$ amount for my investments to hit, once that threshold is reached, I am taking the plunge.  I look forward to joining you in the Per Diem ranks soon!
Enjoying the journey (& bike ride!) to FIRE.

Mother Fussbudget

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Re: Epic FU money stories
« Reply #1284 on: September 06, 2016, 03:04:44 PM »
Asshair#3 A cautionary tale.  Asshair#3 could arguably be *ME*, as in "fool me once, shame on you, fool me twice, shame on me".  Hence, this may belong on the 'anti-mustachian wall of shame', but I'll include it here to keep the series in the same thread. 
Timeframe:  1996-to-2003

By 1996, I was doing well at SG (software giant), my vested SG stock options were worth a good deal of money (~$2.5M).  But I had begun to get nervous about having a portfolio worth that much $$.  Nervous about whether my self-guided investing was good enough, or whether I should hire a financial consultant / analyst to help me keep my money invested wisely & safely.  As Will Rogers said, "The only thing more important than return on your investments, is return OF your investments".

Aside:  If you have similar concerns - DON'T WORRY!  Keep planning your investing, and investing to your plan.  You're as smart as any high-priced financial advisor IMHO.  Low Cost ETF's are the vehicles to use today - Total Stock Market, Total Bond Market, and REIT's are what I'm invested in today.  I only wish I had listened to my own advice in late 1999...

In late 1996 I was contacted by Asshair#3 - yes, a cold calling stock broker based in LA who dealt mostly with high-dollar-figure clients, many of whom were at SG.  I said I wasn't interested, but he convinced me to invest $100K with him, and he would use that amount to show how much he could increase my investments.  I maintained a separate account at Fidelity where I had grown a $33K initial investment to almost $800K, so I wasn't worried about losing $100K.

My plan:  pick a date, and do a 'sell-buy' - exercise the vested stock options, and SELL enough shares to generate enough cash to BUY the remaining shares outright, and hold those shares in my account for at least 1 year.  On that initial sell-buy, I paid short-term capital gains equal to my income tax rate (36%).  A year later, I could sell any remaining shares, and pay only 15% long-term capital gains taxes on those shares.  In the late 90's, SG stock was on a roar - rising, splitting, rising again, etc.

Asshair#3 was initially successful enough to convince me to do the sell-buy into an account with him.  In the fall of 98, I did the sell-buy, generating a >$1M tax bill (ouch! - I know...), leaving roughly $2.5M in stock value in that account.  I also moved some $$ into my original self-directed account, bringing it's total to over $1M, and life was good. 

I had always wanted to live on the water, so soon after, I bought a house on a large nearby lake for >$1M.  I wanted to pay cash, but Asshair convinced me to get a mortgage against my stock account - aka *margin* the stock against the lake house.  [In hindsight, I'm sure this generated a nice big kick-back for him].  For the first year or so, this presented no problem...  SG stock continued to climb.  Even the $10K annual waterfront tax bill was a small amount to pay to be able to walk out my backdoor, jump in the boat, and go play on the lake.

But in the fall of 1999 there was a highly publicized court ruling against SG that could potentially impact SG's stock growth.  I asked Asshair, and he said to "stay the course", that it could never get that bad.  "SG is the 'Ferrari' in your account".   At SG, I worked on a major Macintosh product, and solved 'Y2K software defects' in the software we were building - we found nothing too dramatic to solve.  But there was an end of 99 hysteria about Y2K that made me nervous.  I knew the stock market was an emotional market, not always built on actual value, but on *perception*.  That's why on Dec. 30, 1999 (Why do I remember that date so clearly?  It was my birthday), I realized I hadn't slept the previous night worrying over the stock market, and called Asshair#3 from a family vacation in Hawaii to say I wanted to "sell all shares in SG, pay off the lake house, and invest in something less risky - like bonds, and perhaps put some in some $$ in Apple." (I had worked on a Macintosh product the previous year which was doing well in the market, and thought Apple's stock price still had some growth room left - I was happy with the way Steve Jobs was leading Apple). I said I wasn't worried about any of the nightmare Y2K issues, but was worried about the overall emotion-in-the-market, so wanted to get into cash, and sit-it-out.   That day, my account value was north of $5M.  Needless to say, Asshair#3 talked me out of it - talked me out of selling.

Over the following 3 months, I saw SG's stock nudge downward in large part due to the highly publicized court ruling.  By March, the value had plunged erasing 5 years of stock growth.  But that time, I had been forced (twice) to sell shares to cover margin calls against the shares margined for the lakefront property.  In late March, I said I wanted to sell enough to pay off the mortgage, and hold the property in cash, but by then most of my fortune "on-paper" had disappeared.   Soon after is when he convinced me to invest in Enron. 

Yes, the news on Enron was out, and it was clear the stock was going down, but Asshair's pitch was, "Come on - it's ENRON.  Surely they can beat this, and come out of this stronger than ever.  It's ENRON."  I had 10% of what was left in Bonds, ~$600K in cash, and most of the remainder still in SG stock.  (I know - facepalm).  He invested that ~$600K in Enron, and a half-dozen Dot-Com companies hoping to see the same kind of increases in those stocks that SG had seen in the late 90's.  But it was not to be...

Enron tanked.  ALL the Dot-Com stocks tanked.  In those stocks alone, I lost upwards of $600K.  SG stock tanked, and stayed low.  I finally closed the account with Asshair, and the story got back to his leadership, and got him fired.  [It was little consolation, as last time I checked, he's still active at another SoCal based stock firm]. The annual $10K (!) tax bill on the lakefront house (you read that correctly) had by 2003  became a burden, so eventually I sold the house - for a profit, but that ROI did not offset the stock losses.  Eventually moved into a more modest house in the area and paid down >40% up front.  But things were not good at home.   Later (2006) separation, and divorce followed, and after the lawyers bills, and 50/50 split, and once the dust settled, I was left with less than $350K in total assets, and monthly spousal support (including child support) bills. 

A hard story - true.  But all behind me.  I've learned a lot, and will never make the same mistakes again. I may never have as much money in my FI funds, but I've learned to be happy with what I have, and I will always listen to my own investing advice. Advice that's allowed me to grow my FI funds over the years to a point where FI is within reach.

. . . .

Next up... in 2004, I had my one true Epic FU money story....  Asshair#4 may have been a good coder, but was a terrible manager.  And even though I had seen my fortunes decrease, it didn't stop me from using what FU funds I had to pull-the-FU resignation trigger.



arebelspy

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Re: Epic FU money stories
« Reply #1285 on: September 06, 2016, 03:09:50 PM »
Oof.. that December '99 call.. if only.  :(
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with a kid.
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patchyfacialhair

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Re: Epic FU money stories
« Reply #1286 on: September 06, 2016, 03:17:01 PM »
...some hubris, some 'correct in hindsight' foresight, and ENRON...

Nice. Thanks for sharing again. I'm glad that you're still happy and have things mostly figured out. Not a lot of folks could mentally recover from seeing their net worth go from $5MM to $350k.

hollow

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Re: Epic FU money stories
« Reply #1287 on: September 06, 2016, 04:11:08 PM »
Was forwarded this email yesterday from an engineer at our company who had finally had enough...

That was amazing.

To those wishing to donate to this guy, I found a blog quite easily by searching for a phrase that stood out. He has a Paypal donate button.

lhamo

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Re: Epic FU money stories
« Reply #1288 on: September 06, 2016, 04:18:18 PM »
Holy shit.

I don't know what I would have done in the face of that kind of loss.  Perhaps hire some out of work tattoo "artists" to emblazon "Come on -- it's Enron!" across the guy's forehead?
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Secretly Saving

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Re: Epic FU money stories
« Reply #1289 on: September 06, 2016, 05:00:50 PM »
Holy shit.

I don't know what I would have done in the face of that kind of loss. 

Holy shit is what I thought too.  That must have been very painful to watch at the time.

  I love your positive outlook, Mother Fussbudget!

Northwestie

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Re: Epic FU money stories
« Reply #1290 on: September 06, 2016, 05:22:29 PM »
Man - there's a lifetime of financial stories in that one installment.  My life is boring.

COEE

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Re: Epic FU money stories
« Reply #1291 on: September 06, 2016, 05:38:30 PM »
This being said, I have never seen a story about using that FU money. Please, share your stories!!
"It was a cheap act of corporate extortion and I pulled it off."

Nice!  I'm going remember this and use it someday.  I think this is the best FU story so far... you quit - and got paid to go.  Incredible.  I'm curious what percentage of your salary your severance was if you're willing to share?

Bicycle_B

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Re: Epic FU money stories
« Reply #1292 on: September 06, 2016, 05:59:20 PM »
Not sure what role, if any, FU money played in this guy's resignation (he had another job lined up), but it is an epic resignation letter:

https://troylaraviere.net/2016/08/30/dear-mayor-emanuel-i-resign-my-position-as-principal-of-the-1-rated-neighborhood-school-in-chicago/

That was a thing of beauty!  Wow!

That's awesome.

okits

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Re: Epic FU money stories
« Reply #1293 on: September 06, 2016, 06:56:24 PM »
Mother Fussbudget, I'll be honest, I feel physically ill after reading that.  Thanks for sharing what must have been an incredibly difficult lesson and I'm glad you're happy and in a good place now.

Looking forward to the next story.
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fredbear

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Re: Epic FU money stories
« Reply #1294 on: September 06, 2016, 08:33:54 PM »
I'm curious what percentage of your salary your severance was if you're willing to share?

Severance was your full salary at the rate of a week for each year of employment, so 7 weeks or not quite 14% of my annual salary.  The meeting with K the Queen of HR would have been a triumph if I could have pulled it off.   My idea (pre-mustachian, but kind of an entelechy of mustachery if only it had worked) was to be paid none of it and have the whole of the severance dumped to my 401(k), which would have put it WAY past the company match, and indeed, very close to the annual limit for that year, plus fully and immediately vested.  Alas - damned impertinent rogue of a logician HR Queen that she was - K pointed out that 401(K)s were for employees, and a person receiving severance by definition was no longer an employee.

Dicey

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Re: Epic FU money stories
« Reply #1295 on: September 06, 2016, 10:10:41 PM »
Crikey, MF! I had to pause mid-story to turn on a fan! What a story! I'm so glad you lived to tell the tale. To quote Rod Stewart, "and Mother what a lover, you wore me out"!

Years ago, Money Magazine (I think) profiled a bunch of Enron "winners" and put them on the cover of the issue. I always hoped they'd run a "Whatever happened to...?" follow-up, but that wouldn't sell magazines, would it?

I am glad you survived your horror story.
I did it! I have a journal!
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patrickza

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Re: Epic FU money stories
« Reply #1296 on: September 07, 2016, 08:09:38 AM »
Mother Fussbudget, I'll be honest, I feel physically ill after reading that.  Thanks for sharing what must have been an incredibly difficult lesson and I'm glad you're happy and in a good place now.

Looking forward to the next story.
Same here. What a read, I broke out in cold sweats and it's not even my cash! Seriously well done on picking up the pieces and moving on with your life.

Fastfwd

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Re: Epic FU money stories
« Reply #1297 on: September 07, 2016, 09:53:02 AM »
Not epic but still good story:
Have been working for a big international bank for one year and they tell me I have to start working 11am - 8pm. I tell them no I have kids and want to see them. They tell me you take it or you have to resign. So I tell them fire me then because I am not doing it. They tell me I would not get unemployment and would I be OK? Yes I would; I can retire now if I want to I just work for the luxuries now.


Long story short I resign because it's the same as being fired vs unemployment but I have to give 60 days notice per contract so I do this but don't work evenings. After 60 days they ask me if I want to stay longer because they have not found a replacement and I say no. Left and took the whole summer off while fielding multiple calls from recruiters looking for a very specific skillset that matches what they need and I have.

Satisfaction :)


MrMoogle

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Re: Epic FU money stories
« Reply #1298 on: September 07, 2016, 09:57:21 AM »
Man - there's a lifetime of financial stories in that one installment.  My life is boring.
Boring is good.  You don't want to live in interesting times.

Mother Fussbudget

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Re: Epic FU money stories
« Reply #1299 on: September 07, 2016, 10:14:15 AM »
Man - there's a lifetime of financial stories in that one installment.  My life is boring.
Boring is good.  You don't want to live in interesting times.
+1.  Boring is good.