Before I moved to Vegas, my employer stonewalled every effort I made to advance my career. My father suspects it’s because my manager received extra money in bonuses for my performance and relied on that money. Whatever the reason, despite my contribution to the organization, nobody came to talk me out of leaving until I had only two more days to work. By then, I had moved my belongings into storage and moved into a weekly hotel room, and my father was on his way up to help me move. I told the General Manager, “I have $3000 in the bank, no debts, bills or obligations, and a place to live. You need me more than I need you.” It felt empowering.
I’m not alone. Both Humphrey Bogart and Scott Adams pointed out the benefits of having an emergency reserve because of the financial independence it gives you to be picky with how you spend your time. Bogart used to keep $100 in a drawer ($1000 adjusted today for inflation) so that if he was offered a role he didn’t like he didn’t have to take it. Scott Adams created the “Dilbert” character Wally who saves up money so that he could retire any time he wanted when the demands of work became impossible, unethical, and/or unrealistic.
Since I don’t have a desk, I had to find another way to set some money aside, but I have money in the bank ready to go above and beyond what I earn. It’s nice to not live paycheck to paycheck and to have some set aside in case of an unexpected change, particularly during the years when the Department Chair would come visit me and tell me my name was on the layoff list. That certainly builds morale and makes one feel secure, which is why I thank God for the small rainy day fund I have so that I don’t have to take what others want to give me.
Money’s greatest value to you after the bills are paid lies in its ability to give you options, to give you freedom. This is probably why I rail against debt of any kind and why I take opportunities to take extra sections. Most of the extra goes straight into retirement, and some of it gets spent on travel, but a good portion also goes into preparedness. I beefed up my food storage and set aside an emergency fund so that if I am offered a role I don’t like I don’t have to take it. Maybe this is why government is so eager to take money from you. They don’t want you to have a reserve, to have a choice, to have any freedom. It’s empowering to be able to walk away when things become incompatible with happiness and pursue your own adventure and opportunities elsewhere. I am glad that I had that exchange with my manager; the best thing about the story is that it’s true, and I really did need them less because I had something set aside. If you can, it will give you options, peace and freedom too.
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