Earlier I meant FU money not meaning it’s just going to sit there and do nothing. FU money means you have money that is working to provide you sufficient income so you don’t need to work for the same income.
It’s one of the main reasons I’m not a huge proponent of increasing taxes on capital gains, dividend, and investment income. For those of us that don’t have pension (which is long gone), or who don’t have a profession which you could practice indefinitely, who took the time to plan financially ahead and try to achieve financial independence, many of us are counting on that passive income to live on so we don’t need to work. And those sort of “breaks” are available to anyone else that have put in an effort to save/invest and plan…
The problem though, is a majority of the people in this country don’t save/invest/plan, and spend almost everything they earn when they are still a paycheck slave. And some others even if they don’t necessarily splurge on their paycheck, don’t bother to learn how to invest/earn (typically the doomsayers that think the sky is always falling)., but gripe about how their paycheck/benefits/etc is getting smaller and eaten away by inflation.
Short of having a guaranteed pay from a retirement plan, doing nothing is a sure way to almost guarantee failure when you are old and can’t (for whatever reason) work.
