FU Fund Passed $1,000,000

[foghorn]

While updating my Net Worth Statement over the weekend - the position I call the "FU Fund" surpassed $1,000,000.

The Total Net Worth is about $3.25 million.  But the portion that is in my taxable accounts that I can access to survive an emergency has now topped 7 figures.  It has been a long time goal to see that - and frankly I am proud of it.  Thanks to the MMM community for letting me brag a bit.  I have no else I can tell this news. 

[DeepEllumStache]

Nicely done!

[Dee]

Wow! Do you consider yourself FI at this point?

[foghorn]

Wow! Do you consider yourself FI at this point?

Yes, I guess I do consider myself FI.  However, I am still working as I am dealing with a serious case of OMY syndrome - and frankly fear.  I am so frightened of walking away from a good paying job (in my early 50's) and then having the RE thing blow up on me.  The likelihood is low, but who said fear is rational?

[RWTL]

Congrats!

[Zamboni]

Well done!

[markbike528CBX]

Awesome !

If your emergency fund has double commas, you might be a Boglehead :-)
     Said to the tune of If ...... You Might be a Redneck (Jeff Foxworthy)

Any double comma net worth is FU, FI, FIRE worthy.

Come join the 2019 cohort! We're the coolest cohort yet :-)

[BicycleB]

Wow!

In your honor, an impressive 12 hours of foghorn sounds. (Skip the first 14 seconds...)

https://www.youtube.com/watch?v=gNw50HGCNJQ

[jojoguy]

I`m really happy for you, dude. I know you said that you have fear walking away from your great paying job, but at least you can still rest very easily while you are still working by having a solid safety net if something were to happen to your job. Be of good cheer!

[SimpleLifer]

congrats!!!!

[Bateaux]

No need to be chicken Foghorn Leghorn, you've got plenty of dough.  I'm OMY as well however.   

[Bird In Hand]

Congratulations @foghorn.  That's a very impressive achievement.

I don't know exactly what your planned retirement spending or nest egg look like, but maybe you can turn the tables on your fear by comparing your low likelihood of running out of money with your higher and ever increasing likelihood of dying?  You can enter your own numbers here.

[CCCA]

congrats!  Sounds like you could at least scale back if that is something you'd be interested in. Coasting for a bit rather than going fully RE may be a way to allay any fears you have.  And by the time you do retire you should be way more 'safe' than you are now.

[bmjohnson35]

Way cool Foghorn. You have every right to Brag!

If you haven't already done so, you may want to start tracking your monthly expenses to see where your actual spending is.  Considering your NW, you have probably already done this.  If you are debt free and know your monthly expenses, it will help you feel more comfortable about moving on to the next stage.

BJ

[foghorn]

Congratulations @foghorn.  That's a very impressive achievement.

I don't know exactly what your planned retirement spending or nest egg look like, but maybe you can turn the tables on your fear by comparing your low likelihood of running out of money with your higher and ever increasing likelihood of dying?  You can enter your own numbers here.

Thank you for this!  I have seen it before but never really entered my numbers.  You are right, if I were to walk away today, I would almost certainly end up dead before I would end up broke. 

I guess the idea of going into FIRE is that there seems to be no going back to working (at least to my MEGAcorp job).  So, the FIRE decision seems so permanent.  I know I could do something else if I needed to (low stress, low pay) to "top off the tank".

This whole thing is so fun to think about, yet so stressful.  Weird right?  Stressing about having a $3.25M NW and $1M+ in cash all with zero debt and low expenses.

There is such an emotional (non-rational) side to all of this.  I have really been struggling with it for about 2 years - once I decided that FIRE'ing seemed like a real possibility.  Hence the OMY syndrome.

Thanks again to all of you for the "congrats" - it was nice to share my news with a group of people who would "get it".

[Omy]

Foghorn, you sound like me just a few short months ago!

Despite my irrational fears, I decided to make the jump. I received a ton of excellent advice (and a few gentle face punches) when I posted for the first time last November (after lurking for years):

https://forum.mrmoneymustache.com/post-fire/serious-'one-more-year'-syndrome-advice-appreciated/100/

You've got this. You probably have enough for a couple of lifetimes. What you don't have is enough time to spend it all.

[Much Fishing to Do]

  You are right, if I were to walk away today, I would almost certainly end up dead before I would end up broke. 

Yep, That same calculator best realized a thought I always had regarding OMY:  at some point your greatest risk to a long successful retirement is not retiring today...every day I work MAY make my retirement funds last another day or two of my life, though its highly probable it doesn't make a difference... but every day I work WILL shorten my retirement by a day....

[Brianmcg321]

Congrats on a completing your goal. My wife and I are like you. We want to be able to tell someone we paid off our house and have 1,000,000, but we feel our family will be resentful of it. Plus, we'd rather not let them know. They are terrible with money.

[markbike528CBX]

Congrats on a completing your goal. My wife and I are like you. We want to be able to tell someone we paid off our house and have 1,000,000, but we feel our family will be resentful of it. Plus, we'd rather not let them know. They are terrible with money.

You have told someone ( the collective forum members).
You have effectively shouted it from the rooftops, congrats! 
We're here for all such " brags",  in fact this forum has a celebration thread and a whole "share your badassity" subforum.

[OurTown]

Cheers, well done.

[techwiz]

Congrats!

"One million dollars" (said in a Dr Evil voice)

[elysianfields]

Congratulations @foghorn.  That's a very impressive achievement.

I don't know exactly what your planned retirement spending or nest egg look like, but maybe you can turn the tables on your fear by comparing your low likelihood of running out of money with your higher and ever increasing likelihood of dying?  You can enter your own numbers here.

Thank you for this!  I have seen it before but never really entered my numbers.  You are right, if I were to walk away today, I would almost certainly end up dead before I would end up broke. 

I guess the idea of going into FIRE is that there seems to be no going back to working (at least to my MEGAcorp job).  So, the FIRE decision seems so permanent.  I know I could do something else if I needed to (low stress, low pay) to "top off the tank".

This whole thing is so fun to think about, yet so stressful.  Weird right?  Stressing about having a $3.25M NW and $1M+ in cash all with zero debt and low expenses.

There is such an emotional (non-rational) side to all of this.  I have really been struggling with it for about 2 years - once I decided that FIRE'ing seemed like a real possibility.  Hence the OMY syndrome.

Thanks again to all of you for the "congrats" - it was nice to share my news with a group of people who would "get it".

Congratulations on your impressive accomplishment!

May I suggest a few ways to test the waters:

• Take a short (3-6 weeks / months) sabbatical from the MegaCorp job, see how you like it;
• Negotiate your way back to part-time or a consulting arrangement;
• Take a longer sabbatical ("Boss, I'm losing it, I need a break, could I please have a year and come back to my same position - I'll train someone to cover me."), something like that.

FWIW.