How fragile is your life?
Discussion
On the back of the homeless thread really, was just thinking about my life and how fast things could go wrong.
If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
ked in the blinking of an eye. 
ChocolateFrog said:
Essentially we'd be fine indefinitely.
We've got a generous state. The only extravagance we have are holidays and those include Butlins and Mablethorpe, so not change
We've got a generous state. The only extravagance we have are holidays and those include Butlins and Mablethorpe, so not change
Same here but then I'm of a "certain age". As a younger man there would have been times when the kids were young that I'd have been lucky to last 3 months.
9th of may 2005 I was told my son wouldn't make his teenage years, the mrs left me for a bloke she worked with emptying my bank account and clearing the house out, two days later I was told I was being made redundant and on the Friday I got a letter telling me we hadn't been paying the mortgage (Mrs again) and if I didn't make a payment and the arrears they were going to repossess the house which took all of my redundancy money.
But hey, when you're at rock bottom the only way is up right?
But hey, when you're at rock bottom the only way is up right?
Upinflames said:
On the back of the homeless thread really, was just thinking about my life and how fast things could go wrong.
If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
It’s sad (but not unexpected) that your main priority seems to be money. In reality, your health should be your primary concern.If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
Upinflames said:
On the back of the homeless thread really, was just thinking about my life and how fast things could go wrong.
If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
Not at all.If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
Much of this is down to choices we made. We didn’t have children until we were established in our careers, and until we had enough savings to ensure we could survive well even if one or both of us lost our jobs.
We waited until we were as sure as we we could be that we weren’t going to split up, and then we lived well within our means.
Of course some people will scoff at the idea of doing this.
Upinflames said:
On the back of the homeless thread really, was just thinking about my life and how fast things could go wrong.
If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
Christ. Peak PH this is.If the company I work for went tits up tomorrow I'd need an income by 3 months from now to avoid drastic changes.
I could start selling stuff, the boat, motorbikes and a couple of cars but by 2 years that would be exhausted.
How close to the wire are you?
Getting Michelle Mone vibes here.
Provided I was prepared to make a few (quite reasonable, in the scheme of things) sacrifices and have a pretty frugal life, I would be in theory able to survive indefinitely on my current investments.
To put this into some context, I have spent quite a long time following the FIRE approach, and have now reached a point where I am FI with the above caveats. I am not yet at the point where I would feel comfortable with the RE aspect - that's about five years away.
To put this into some context, I have spent quite a long time following the FIRE approach, and have now reached a point where I am FI with the above caveats. I am not yet at the point where I would feel comfortable with the RE aspect - that's about five years away.
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