Elizabeth Warren Had A F*** Off Fund of Her Own

[steve2470]

http://time.com/money/4227991/elizabeth-warren-emergency-fund-advice/?xid=gonewsedit&google_editors_picks=true

(asterisks in original article title)

?quality=75&strip=color&w=1100

Elizabeth Warren squirreled away money as a young adult to create a f*** off fund, and she recommends that young women (and men, too!) today do the same.

Although she uses the more genteel term “walking-out money” to refer to it, Warren, in a recent interview with Elle, told the magazine she had a cash cache she cobbled together on the advice of her mother-in-law. It wasn’t easy, but when she found herself facing divorce with two young kids at the age of 29, the journey forward would have been much harder. “When any hard hit comes… having savings means there are options,” she said.

Wait, back up — what is a f*** off fund, exactly? The term comes from an article published last month on Billfold.com titled “The Story of a F*** Off Fund” (they dispense with the asterisks in the original) that touched a nerve and went viral, garnering hundreds of comments and thousands of likes. The idea is that if you ever find yourself in a precarious situation, you’ll have some money that functions as a financial parachute. It’s an emergency fund, really, but it’s one that, outside of a true catastrophe, you Do. Not. Touch.

one more paragraph at link

[whathehell]

1. Good idea...Kind of a longer term version of what we used

to call "mad money".

[Warpy]

2. It's what I did, too, by the time I hit my early 20s

Having enough money to be able to say "no, and I'm out of here" is a great thing. Everyone needs it.

[arcane1]

3. As if I needed a reason to love her more

[Skittles]

4. I've never depended on a man as an adult

would never, EVER do that

[lancer78]

5. nice thought

But how the f**k are people supposed to save for that with $10 an hour wages and $50,000 in student loans that cannot be discharged in bankruptcy.

[1939]

8. What did you major in that you are working for $10 an hour? NT

[2naSalit]

10. Ya know something...

that really doesn't matter in this day and age. I have an advanced degree and am hard pressed to find work for over $10/hr. I am always looking for a job, 365 days of every year except leap year. If you are over 40, good luck finding anything. And if you are educated, you are often passed over due to too much education because you will expect higher pay.

It's not uncommon, if you are under 40, good luck finding something permanent and pays well. there's a reasona large portion of the population can't afford a savings account.

[lancer78]

12. And this is why Bernie's "Revolution"

will never happen. People like this still exist in large numbers.

[Kang Colby]

6. Great post...K&R...n/t

[polly7]

7. Very smart.

I wish I'd had one.

[jillan]

9. I had one & TG I did!

I was fortunate tho, I realize that not everyone can do this.

[2naSalit]

11. Wish i could afford

to have one. anything I can save ends up paying the bills when I don't have an income.