FOAM

[ixtap]

We don't usually refer to our plans as retirement, as I already haven't been getting paid for most of my work for a few years and we tend to avoid goals that sound like they limit options. We make no claims to circumnavigate in our sailboat, just to cruise as long as we are enjoying ourselves  DH often refers to his pending decision to leave the workforce as an indefinite sabbatical.

I always liked the term "of independent means," as it also avoids the discussion of "what is wealthy" (not sure why this term is so problematic on wealth accumulation forums, like here and bogleheads, but it is. According to many, we are not wealthy, but we certainly meet our own definition. Drives FIL bonkers that we refer to ourselves as wealthy with a similar networth to his own).

And so, I think I have finally identified an acronym we can embrace: FOAM (Folks Of Autonomous Means)

What color is your FOAM?

[Dicey]

Uh, green?

[ixtap]

Uh, green?

D'oh, I missed an obvious one there! Thought it would be orange or black.

[SunnyDays]

I'm Canadian, so blue, purple, green, red and orange.

[Glenstache]

FOAM, it rhymes with FOMO.

[dcheesi]

(not sure why this term is so problematic on wealth accumulation forums, like here and bogleheads, but it is. According to many, we are not wealthy, but we certainly meet our own definition. Drives FIL bonkers that we refer to ourselves as wealthy with a similar networth to his own).

"Wealthy" isn't just an economic indicator, it's also a major indicator of social class/status. People who see themselves as "middle class" are going to fight tooth & nail to avoid the "wealthy" moniker, while those who see themselves are "upper class" will cling to it like a life-raft, even when their current financial numbers may not warrant it.

[ixtap]

FOAM, it rhymes with FOMO.

But it is what happens when you blaze your own trail, instead of worrying about missing out on what other people are doing.

[Spiffy]

when talk of class distinctions come up, I always say we are part of the intelligentsia. Problem solved.

[maizefolk]

Wealthy is like middle age, it's always supposed to be applied only to people bit older/with a bit more money than the person speaking. So saying you're wealthy gets pushback from people with about the same amount of money as you for the same reason calling yourself middle aged will create a lot of pushback from people born in the same year as you.

My guess is "of independent means" will trigger the same emotional reaction in the same people, as it sounds like the way a character in Pride and Prejudice would talk about being wealthy without using the word wealthy.

I'm guessing you came up with FOAM because FI didn't feel like it fit you. However, I'm curious why, from your perspective, Financially Independent doesn't feel like a good fit.

[ixtap]

Wealthy is like middle age, it's always supposed to be applied only to people bit older/with a bit more money than the person speaking. So saying you're wealthy gets pushback from people with about the same amount of money as you for the same reason calling yourself middle aged will create a lot of pushback from people born in the same year as you.

My guess is "of independent means" will trigger the same emotional reaction in the same people, as it sounds like the way a character in Pride and Prejudice would talk about being wealthy without using the word wealthy.

I'm guessing you came up with FOAM because FI didn't feel like it fit you. However, I'm curious why, from your perspective, Financially Independent doesn't feel like a good fit.

In my world, we refer to someone as financially independent when they start paying their own bills. So, if you were to ask my parents, I have been financially independent since I was a teen.

I imagine that outside of the FIRE community, FI doesn't mean much of anything to most people. I do recognize that in the financial community, it is now generally accepted as we use it, so I didn't want to harp on about that issue.

But honestly, I just like FOAM. Especially in the context of this forum, because I have a silly side ;)

[G-dog]

Wealthy is like middle age, it's always supposed to be applied only to people bit older/with a bit more money than the person speaking. So saying you're wealthy gets pushback from people with about the same amount of money as you for the same reason calling yourself middle aged will create a lot of pushback from people born in the same year as you.

My guess is "of independent means" will trigger the same emotional reaction in the same people, as it sounds like the way a character in Pride and Prejudice would talk about being wealthy without using the word wealthy.

I'm guessing you came up with FOAM because FI didn't feel like it fit you. However, I'm curious why, from your perspective, Financially Independent doesn't feel like a good fit.

In my world, we refer to someone as financially independent when they start paying their own bills. So, if you were to ask my parents, I have been financially independent since I was a teen.

I imagine that outside of the FIRE community, FI doesn't mean much of anything to most people. I do recognize that in the financial community, it is now generally accepted as we use it, so I didn't want to harp on about that issue.

But honestly, I just like FOAM. Especially in the context of this forum, because I have a silly side ;)

Waiting for this thread to get foamy….

[beekayworld]

Wealthy is like middle age, it's always supposed to be applied only to people bit older/with a bit more money than the person speaking. So saying you're wealthy gets pushback from people with about the same amount of money as you for the same reason calling yourself middle aged will create a lot of pushback from people born in the same year as you.

Most wealthy people say "I wouldn't say we are wealthy, but we are comfortable." or someone will say "I didn't grow up wealthy, but we were comfortable."  Wealth seems like it's always the next step above, just out of reach.

A person who grew up with a swimming pool, a housekeeper, and the knowledge that his college costs were already fully funded, will assume that "wealthy" applies to people who grew up with a butler and a yacht.

[ender]

I want to be FOAM with a fully self driving electric car.

[maizefolk]

A person who grew up with a swimming pool, a housekeeper, and the knowledge that his college costs were already fully funded, will assume that "wealthy" applies to people who grew up with a butler and a yacht.

Agreed. And a person who grew up with a butler and a yacht will assume "wealthy" applies to people who grew up with a security detail and a private island.

Good point about "comfortable" being a word people are more, well, comfortable applying to themselves.

[ixtap]

A person who grew up with a swimming pool, a housekeeper, and the knowledge that his college costs were already fully funded, will assume that "wealthy" applies to people who grew up with a butler and a yacht.

Agreed. And a person who grew up with a butler and a yacht will assume "wealthy" applies to people who grew up with a security detail and a private island.

Good point about "comfortable" being a word people are more, well, comfortable applying to themselves.

CUE - comfortably un employed

My mind went to other stuff first, but I even made myself blush.


DH thinks he grew up in a typical middle class suburb. I had never even heard of a neighborhood hiring it's own swim and tennis coaches for the summer when I was growing up and 4000 sq ft homes were definitely not normal in the 80s.

[fishnfool]

ROAB = Retired On A Budget

[Metalcat]

Wealthy is like middle age, it's always supposed to be applied only to people bit older/with a bit more money than the person speaking. So saying you're wealthy gets pushback from people with about the same amount of money as you for the same reason calling yourself middle aged will create a lot of pushback from people born in the same year as you.

Most wealthy people say "I wouldn't say we are wealthy, but we are comfortable." or someone will say "I didn't grow up wealthy, but we were comfortable."  Wealth seems like it's always the next step above, just out of reach.

A person who grew up with a swimming pool, a housekeeper, and the knowledge that his college costs were already fully funded, will assume that "wealthy" applies to people who grew up with a butler and a yacht.

"I'm not rich, I don't even have a private jet" -ultra wealthy relative

[Metalcat]

A person who grew up with a swimming pool, a housekeeper, and the knowledge that his college costs were already fully funded, will assume that "wealthy" applies to people who grew up with a butler and a yacht.

Agreed. And a person who grew up with a butler and a yacht will assume "wealthy" applies to people who grew up with a security detail and a private island.

Good point about "comfortable" being a word people are more, well, comfortable applying to themselves.

CUE - comfortably un employed

My mind went to other stuff first, but I even made myself blush.


DH thinks he grew up in a typical middle class suburb. I had never even heard of a neighborhood hiring it's own swim and tennis coaches for the summer when I was growing up and 4000 sq ft homes were definitely not normal in the 80s.

Lol, yeah, my ultra wealthy relative's son thinks we had relatively the same upbringing. He lived two houses down from a world famous NBA player. I grew up with siblings fighting over bath order because we shared the same water.

Not the fucking same. Lol

[ixtap]

ROAB = Retired On A Budget

Very accurate and can be shared with retired folks of all ages!

[neo von retorch]

<snip>
And so, I think I have finally identified an acronym we can embrace: FOAM (Folks Of Autonomous Means)

What color is your FOAM?

The color of my folks is none of your business :-P But I definitely see them as rose-tinted.

[Abe]

I like sailing, so foam sounds good.

My parents and I disagree on whether we are wealthy. They say “comfortable “ and it makes me want to gag. Sweaters are comfortable, we were not because they worked a lot and our hometown was a racist dump. Regardless, we are wealthy by any rationale measure. We don’t need a jet to be wealthy. Just need enough money to do what you want. So when my son asked us if we are rich, I said “yes “ and left it at that. He then asked for more toys and I said no, we appreciate the ones we have and that’s why we’re wealthy.

[ixtap]

I like sailing, so foam sounds good.

I know they say to take the helm, but when I am a bit queasy, I end up staring at the foam on the leeward side :)

My parents and I disagree on whether we are wealthy. They say “comfortable “ and it makes me want to gag. Sweaters are comfortable, we were not because they worked a lot and our hometown was a racist dump. Regardless, we are wealthy by any rationale measure. We don’t need a jet to be wealthy. Just need enough money to do what you want. So when my son asked us if we are rich, I said “yes “ and left it at that. He then asked for more toys and I said no, we appreciate the ones we have and that’s why we’re wealthy.

I like this response :)