F You Money – How much money is enough?

Options Trading: How much is enough?

There is this TV show called, Billionaires.
It’s a Showtime show but they had the first episode On Demand.
The show is about a guy who runs the most powerful hedge fund and his fight with the US District Attorney.
In one scene both are face to face and the DA threatens the guy with legal action.
His response stuck with me.
“What’s the point of F You money if you never say F You?”
In case you have never heard the term, F You money is basically having enough money to do what you want.
  • To be able to quit  your job
  • To make your own rules
  • To live the good life.
The idea is sexy, but I think it misses the point.
I don’t want F You money, I want F You Income.
Sure you need some money to have the income, but if all you have a huge pile of cash and no idea how to make it grow or protect it, eventually that cash is going to be gone.
Back when I first started trading, I had my goal: $5,000 a month
That was my F You Income goal. If I could make that, it meant I would not have to go back to the work force.
Now My F U Income goal is a little higher. $15,000 a month.
That covers our monthly expenses and leaves enough for savings, fun, and sharing with others.
By keeping my income goal low, I get plenty of time to do whatever I want.
And to me, that is what life is about: not the things we buy or the size of the bank account, but the experiences, the memories, the difference we make for others.
Sure, if I wanted to make millions I probably could. Start a hedge fund and work my tail off, but to me that is not a life I want to live.
Do you agree or not?
What is your F You Income goal? And what are you doing to get there? Please let us know in the comments section below. Be sure check out our previous blog posts for best options selling tips on how to do option trading for a living.

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3 Comments

  1. Shishir Patel on January 3, 2017 at 10:09 pm

    My F You Income goal is $ 10,000 Gross (Say approx. $ 6,000 After Tax) .
    At the stage, I am getting $2,000 (average Gross) from my superannuation fund (Saving).
    Also I am working as a contractor and earn around $ 3000. But I would like to leave my job and earn $ 8000 from trading.
    I have join Blank Cheque group and have 10K portfolio for trading. My present goal is to earn 5% average per month from 10K. Still I have not much success after about six months. Once I learn and get 5% average per month from 10K, I will increase my portfolio slowly to achieve my goal to earn $ 8000 from Oil Future Option trading.

    • Allen Sama on January 17, 2017 at 7:03 pm

      Shishir, it is definitely doable.
      $500 a month from oil options should only be 2-3 contracts.
      Are you still keeping your records?
      Playing by the rules?
      If you have to, maybe go out in time a little more. Maybe a week more away from expiration and see if that helps you.

  2. Steve Shape on January 4, 2017 at 12:10 am

    Hi Allen–

    I think the show is titled “Billions” in case anyone is looking for it. A very entertaining show, indeed!

    You have it right from my perspective. “INCOME” is what it is all about. The key is to have repeatable income and a comfortable way to be able to generate that repeatable income month after month without fail.

    Thanks for sharing with us!

    Steve

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