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You're fired from your job - how long can you survive?
10-30-2023, 11:38 PM
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#1
You're fired from your job - how long can you survive?
Without going into debt, selling your car/items, destroying your retirement accounts, moving in with friends/family... how long do you think you could survive? Assume no severance package, maybe one more paycheck though.
For me, probably 20 months if I'm frugal (no delivery, no restaurants, just groceries, cut the booze, cancel some subscriptions maybe). Feels good. The cure to work related anxiety is to know that you're not actually pharked due to being paycheck-to-paycheck.
For me, probably 20 months if I'm frugal (no delivery, no restaurants, just groceries, cut the booze, cancel some subscriptions maybe). Feels good. The cure to work related anxiety is to know that you're not actually pharked due to being paycheck-to-paycheck.
10-30-2023, 11:48 PM
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#2
10-30-2023, 11:51 PM
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#3
Originally Posted By KBurn⏩
Do you have sufficient passive income to cover the bills / taxes / insurance / groceries / emergencies you think? Just curious. My dream is to have a paid off house eventually, hopefully before 40. But I'd imagine you'd still need $1500/mo or more even with zero mortgage/rent.indefinitely.
Feels good to have house paid off.
Meanwhile so many idiots driving flash cars and showing off, wouldn't last a month.
Feels good to have house paid off.
Meanwhile so many idiots driving flash cars and showing off, wouldn't last a month.
10-30-2023, 11:54 PM
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#4
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Originally Posted By Visel⏩
Not enough yet.Do you have sufficient passive income to cover the bills / taxes / insurance / groceries / emergencies you think? Just curious. My dream is to have a paid off house eventually, hopefully before 40. But I'd imagine you'd still need $1500/mo or more even with zero mortgage/rent.
I can live off the dole very comfortably tho.
Just working for my kid now, nothing else.
10-31-2023, 12:00 AM
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#5
- 6gorillion
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~4 years
10-31-2023, 12:25 AM
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#6
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Around 5 years living how I live now without touching stonks
If I'm really frugal maybe 6 years
If I'm really frugal maybe 6 years
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10-31-2023, 12:43 AM
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#7
For life with $75k withdrawal rate. But I don't think it's enough to retire.
๐ฎ๐๐๐๐ ๐ ๐๐๐๐๐ถ, ๐๐๐๐๐ ๐๐๐๐๐ ๐ ๐๐๐๐๐
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10-31-2023, 12:50 AM
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#8
10-31-2023, 01:00 AM
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#9
- Redfish225
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itt op doesnโt realize weโre all billionaires.
I loe e.
10-31-2023, 01:07 AM
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#10
10-31-2023, 01:09 AM
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#11
10-31-2023, 01:19 AM
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#12
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Is sex work allowed?
10-31-2023, 01:37 AM
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#13
- r32gojirra
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My โside hustleโ makes 2-3 times pre-tax what I make from my day job
If I got fired theyโd have to pay me a very fat redundancy cheque and Iโd actually have more time to work on the business
Think Iโll be ok
If I got fired theyโd have to pay me a very fat redundancy cheque and Iโd actually have more time to work on the business
Think Iโll be ok
10-31-2023, 02:05 AM
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#14
- AncientYouth
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i can retire at anytime , so for the rest of my life
i work because: i only do 5-10 hours per week, i actually like what i do and the people i work with, i can stack cash.
Ironically now i have a large diposable income i cannot think of anything i want to spend it on!
i work because: i only do 5-10 hours per week, i actually like what i do and the people i work with, i can stack cash.
Ironically now i have a large diposable income i cannot think of anything i want to spend it on!
10-31-2023, 02:33 AM
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#15
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Long enough not to take a vaccine
10-31-2023, 03:05 AM
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#16
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Long enough to find a new job easily.
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10-31-2023, 03:44 AM
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#17
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I would have to downgrade some things but I can remain autonomous without a job.
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10-31-2023, 04:59 AM
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#18
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Not that long. Due to several reasons my finances haven't been in a place where I can exactly save a lot. I'm trying to fix that and it will probably in the next two years, but if something happens between that time I'd have to make some adjustments to say the least. There are many things I could do to make money. A lot of tools and equipment that most don't have as well as the skill set most don't have and it's in demand. Not saying it wouldn't be a struggle or that things would be that good, but I'd survive.
10-31-2023, 05:37 AM
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#19
10-31-2023, 05:43 AM
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#20
- gbullock32
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About 6 months; If I cut all needless spending and budgeted maybe a year.
Short cuts to success are often paved with lies.
1/13/16: Massive hernia.
5/10/16: Finally back to lifting, light but improving.
Why Teens shouldn't cut/Lack of progress thread- http://forum.obnoxiousbrutes.com/showthread.php?t=169272763&p=1397509823#post1397509823
10-31-2023, 07:35 AM
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#21
10-31-2023, 07:57 AM
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#22
- bsmit107
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Indefinitely
My wife and I set ourselvels up to only need 1 of our incomes to pay all bills/living expenses. Would we have to tighten up a bit...sure, but the way we are set up both of us don't need to work. No more double & triple mortgage and car payments, cut back on travel and such.
Low cost of living area, bought a house for $220k @ 2.8% when we were approved for up to $810k, 1 car payment of $600/month @ 0%....no other debt.
My wife and I set ourselvels up to only need 1 of our incomes to pay all bills/living expenses. Would we have to tighten up a bit...sure, but the way we are set up both of us don't need to work. No more double & triple mortgage and car payments, cut back on travel and such.
Low cost of living area, bought a house for $220k @ 2.8% when we were approved for up to $810k, 1 car payment of $600/month @ 0%....no other debt.
10-31-2023, 08:00 AM
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#23
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Could survive long after death srs
10-31-2023, 08:01 AM
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#24
10-31-2023, 08:07 AM
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#25
- lightsarefallin
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Indefinitely.
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10-31-2023, 08:08 AM
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#26
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Without tapping into anything? 0 weeks
Selling one of the houses, clearing out the retirement account, tapping into credit lines? Probably like 6 years
I don't sit on cash
Selling one of the houses, clearing out the retirement account, tapping into credit lines? Probably like 6 years
I don't sit on cash
10-31-2023, 08:20 AM
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#27
- TokenV
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Originally Posted By Destor⏩
how the fuk would that only get you 6 years?Selling one of the houses, clearing out the retirement account, tapping into credit lines? Probably like 6 years
srs
++
10-31-2023, 08:32 AM
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#28
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Originally Posted By TokenV⏩
Might be more than that realistically but my main house is $70k/year just in mortgage and property tax, the two houses together are almost $100k/yearhow the fuk would that only get you 6 years?
srs
srs
Could extend it a lot by selling the new house and downgrading
10-31-2023, 08:38 AM
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#29
- ZyraThornrise
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14 years of I stayed on budget
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10-31-2023, 08:43 AM
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#30
Probably 2 or 3 years but definitely wouldn't want to do that
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