6 months' salary

[Island Son]

Listening to Brian Tracy - unbreakable laws of money
I could live a month... 2 max if I called in some IOU's before I start using credit. No family around here to depend on.
Any of y'all actually have 6 months' living saved up?

 

[wtlftr]

Yep. The smart thing is to save 6 months expenses. So in the case you lost your job you could survive for 6 months

 

[bran987]

I'd be ok for 3 years but it'd be stressful as all hell I hate spending savings

(gonelifting could support us all for the rest of our lives if we lose our jobs so don't worry)

 

[Lestat]

i could live 6 months but it would tap me out probably

 

[Island Son]

I can't think of anybody. OK maybe one friend who's got a great job and is pretty tight with cash, never flashy

 

[bran987]

I can't think of anybody. OK maybe one friend who's got a great job and is pretty tight with cash, never flashy

the 6 months is supposed to be if you live on ONLY what you need and cut out ALL EXTRANEOUS EXPENSES (i.e. cable, internet, movies, etc.)

 

[wtlftr]

yep. No cell phones or beer. damnit no beer! who cares I am dieting

 

[Lestat]

actually I take that back, I could probably live 2 years without working again, it wouldn't be extravagant, but I could pay rent and eat...

i have very little debt

 

[Raina]

Yup but I'd be cranky.

 

[bran987]

actually I take that back, I could probably live 2 years without working again, it wouldn't be extravagant, but I could pay rent and eat...

i have very little debt

keep it that way bro!

 

[Lestat]

keep it that way bro!

I plan to

 

[Island Son]

the 6 months is supposed to be if you live on ONLY what you need and cut out ALL EXTRANEOUS EXPENSES (i.e. cable, internet, movies, etc.)

haven't watched TV or listened to the radio all week.
BitTorrent is all I need!
(that, and other people to leech from)

 

[SoreArms]

I wouldn't last a month

 

[PICK3]

If I cashed out my version of my 401k ... but I'd get killed in penalities.

 

[gonelifting]

The 6 month period can vary depending on your situation. Do you have insurance in case you become disabled? Do you have other supplemental income that does not require you to "work", such as a rental property etc...? Do you have assets that are fairly liquid and can be turned into cash fairly quickly? These are the variables one must pay attention to when figuring on the "6 month" window of "Cash" to put aside.

NEVER not let your money work for you. Even if it's 6 months' worth of cash. Shame on you.

 

[slat1]

No way I could do it. I am self employed and have massive overhead

 

[PICK3]

Listening to Brian Tracy - unbreakable laws of money
I could live a month... 2 max if I called in some IOU's before I start using credit. No family around here to depend on.
Any of y'all actually have 6 months' living saved up?

Not familar with Brian Tracy. Does anyone recommend him?

 

[hamstershaver]

i wouldnt last 6 days

 

[perkele]

With my savings I could live few years normally without any work.

 

[Delinquent]

The 6 month period can vary depending on your situation. Do you have insurance in case you become disabled? Do you have other supplemental income that does not require you to "work", such as a rental property etc...? Do you have assets that are fairly liquid and can be turned into cash fairly quickly? These are the variables one must pay attention to when figuring on the "6 month" window of "Cash" to put aside.

NEVER not let your money work for you. Even if it's 6 months' worth of cash. Shame on you.

 

[Becoming]

I wouldn't last a month

me either. luckily I could sell my services to hot chicks for cash.

Not to fret though.... AAP might take you in bro.

 

[chewyxrage]

I'd be fucked. I'm just now working my off my debt on the credit card

 

[Shallow Hal]

I have enough for the six months months but I would probably die of stress before that as my savings dwindled away.

 

[MattTheSkywalker]

I could live normally for the rest of my life without working. To maintain my lifestyle now, I would have to keep working. I could probably make it at this lifestyle for 5 years.

 

[aandd]

Hell no. We were downsized from Motorola in 2001 and 2002. I didn't go back to work at all, and DH got his new job in July of '04. Whatever we had is long gone and we cut expenses to the bare minimum during unemployment. DH is just now clawing our way back out of debt accumulated during that time - we'd be fucked if anything happened.

 

[Island Son]

Not familar with Brian Tracy. Does anyone recommend him?

I do. Another motivational getyourlifeontrack guy like Tony Robbins but he seems to focus more on money and career. Where Tony's excitable and hyper, he's calm and reasoned which makes him easier for me to listen to. And he's a lot more specific e.g. investing in real estate, what to look for, how long it'll take to find and execute. Look for his audiobook collections on p2p.