If you quit or lose your job today, how long can you comfortably live with your savings?

[Pinay_ako]

[Astarlessnightsky]

Well if i got fired today, i would still get paid the regular salary for three months, would than get a year long unemployment salary which is not much, compared to the regular pay, but still good. After that i would get basic needs salary, which is super low, but will be paid indefinetely. (more or less)

So yeah, about forever, if i am willing to cut back here and there slightly.

[OfDeath]

How does that work? You have a government position that comes with a lifetime pension or something?

[AlexEfron]

Not at all 😂. I just started earning and don't even have one month's salary as my savings. If I lost my job then I'd be doomed (getting another job would be extremely hard with the recession)

[Sour-rose]

Oh, im dead. :) I'm about to pay rent which is an affordable amount, thanks to this job. Thankfully, im dealing with mofos coming in at 3 in the morning, hanging out in the park and I gotta tell them to get lost. Or crackheads screaming like a banshee and hurling swear words... so i think i got plenty of time to cook up more savings.

[Annie_LevelUP_ADC]

Several years. But I want the savings to stack up, not decrease. I'm going to search for the next challenge.

[RavVid]

We dribble away a lot of money so if a job stops you need to stop unnecessary spending immediately. Friends/family put a lot of pressure on you to to spend by inviting you to places and are in effect putting their hand in your pocket.

I'm used to budgeting for a year and my min buffer is a year. I have a specialized job so I allow that it could take that long for another berth to come up. In a downturn IT is the easiest budget cut to make for a business.

[Pudsmucker]

Years ago I was smart enough to create an emergency expense fund. I set so much aside per month for necessities which includes, food, rent and utilities. Which was enough to take care of myself and my family for the next year. Now that I'm retired I also have a nice pension set aside to take care of myself and my companion the rest of our days, along with that emergency funding that was created years ago. I say to my past employers have a good day. Don't call me I'll call you.

[TallAnon]

Without borrowing anything:
Depends on my pride, if I pull the trigger and move back to my parents I'd be able to live for ~3.5 years, while paying them some.
How I live right now, about half a year.
I recently moved back to my home country which has cost me a bit of my savings.
By the end of the year, these numbers double.
That said, senior computer scientist, I have 10 people begging me to work for them at any time, if I need money, I got money.

[midnightmoon05]

Hard to say. We have enough if I stop working tomorrow. I have pensions and things like that.
we always have one yr emergency funds…everything else in investments… so can cover 2 years? 10 years? Forever? I Am just terrible with money.

[AviatorTom]

I'm retired and living on retirement savings. I can go pretty much indefinitely.

When I was younger, I always tried (and usually succeeded) in having at least 6 months of emergency funds available, if needed.

[exitseven]

I have more than a years salary in a savings account If I was unemployed I could live for 2 years if I was careful.

[dragoblack]

I would look for a new job immediately.
one should never just kick back on their savings till it runs out. Having an overhead for emergencies is super important, so if you run out then you are screwed when you really need the money

[DarkCarousel]

Probably only a year but, uncomfortably. I’d definitely find another job as quickly as I could.

[ObscuredBeyond]

I'm thinking I'd survive maybe a month, before everything went to Hell.

[jamesgoldman]

If I've just cashed in then I'll probably have like 18-24 months

If I'm spent up then like a week or two

[nawtee_me]

If I lost my job today I would have another one by the end on the week. My only loss might be with my 401K… However it would roll over into an IRA.

[dolemite58]

i have enough savings invested in the stock market that it could pay my mortgage and for food indefinitely, couldn’t afford much else but i wouldn’t starve/be homeless.

[OfDeath]

So why don't you just pay the mortgage off then? If you just let it run the full term, you're paying way more than if you just settled it now.

[dolemite58]

@OfDeath Me and my brother own the place together so i’m only paying half the mortgage plus our rate is so low that putting the extra money into the stock market instead and letting it compound will make more over time than paying the mortgage off right away.

[OfDeath]

Oh I get you.

[Mangospacho]

Yes, I could be completely self reliant…..

Until next week.

[justabuddy]

I would be ok. I guess it would kick start my own engineering company even faster.

[BoopBoopBeep]

quite some time. i live cheaply

[Agape93]

If I buy nothing, just under a year and a half.

[Fireguy17]

the rest of my life and then some.

[Jennz6]

Not very long

[OfDeath]

No more than 1 or 2 years.

[Sparkie460]

Definitely not long enough

[LiamJHayden]

At least a decade.

[Fuentes]

3 years. Ain't that a bitch

[dailyoctopus94]

About five years.

[Kelly6]

5 years

[msc545]

about a year

[EaterPeter]

Not long

[EaterPeter]

Thanks for like!

[Jmmmfi4]

A few weeks

[eagle1951]

2 minutes max