Do You Have Your Freedom Fund?

“Mertz, do you have a F* You Fund set up?” I must have had a look of complete disbelief on my face. Two months earlier this guy was my sales manager at Merrill Lynch-he had hired me. Now, he was using the F word-why would I ever want to leave Merrill I asked. He said:”Mertz, this is a tough business and there may come a day when you want to tell Merrill to stick it, or they may tell you to hit the road. The best advice I can give you is to start a F* You fund so you will have 3-6 months of cash on hand to cover your expenses.” What had I got myself into? My friend, had since given up the position of sales manager, he didn’t like all the politics and hearing this advice from
him had a huge impact on my thinking. At the time, I was 25 years old and I fancied myself as at least a Junior Master of The Universe-Oh, how naive I was. My freedom fund was good for about 3-6 days not months!

How about you-do you have your fund established? I’ve read several blogs where a question is posed as to whether it would be better to pay off a credit card or establish an emergency fund. Please, establish your emergency fund first-you never know when it might rain. Have you ever noticed that some of the worst decisions you have ever made happened when you were stressing about money? I know for me, this has been true. Can you imagine how these 500 financial advisor trainees felt when Morgan Stanley told them to pound sand? How many of them do you think had a “freedom fund” established?

For a time I was a consultant to the outplacement firm Drake Beam Morrin. I went from coast to coast speaking to individuals who had just been told to “pound sand.” I loved giving the seminars and met some fabulous people but I hated the circumstances. I can’t count the times I had to counsel people from making some incredibility poor decisions because they were under such financial stress.

Well, as they say, there is no time like the present, to establish your “freedom fund”-Good luck and be generous to yourself!


Steve Mertz
Freedom Fund Believer

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3 Responses to “Do You Have Your Freedom Fund?”

  1. Brad Montgomery says:

    Nice post. F*** in your blog cracks me up. thanks for being such a great pro… good blogging dude!

    Brad Montgomery

  2. Tiredbuthappy says:

    Yeah, I’ve got my six months (and that’s without cutting back–I could probably stretch it longer).

    But I have to say, if I got laid off, I’d be sweating bullets even with my six months’ living expenses. Jobs don’t grow on trees in my field.

  3. Steve Mertz says:

    Claire-You are in the minority. Congratulations on a job well done!! Steve

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