If you lose your job and could not collect un-employment how long could you last?

[Jason999]

If I lost my jobs and I kept up paying my bills, I could only last a few months. I keep two online jobs, work from home, but don't earn a lot. I buy food in bulk, so I'm good for a few months. I dont buy on credit and I make sure to live below my means. Fancy clothes, new cars, the latest gadgets aren't things that appeal to me.

I'd just find another few slave wage online positions and work myself to death. If I couldn't work online, I'd just take any position that I could possibly do. Anything is better than sitting idle.

It's not about doing what you'd like in this life, it's about doing what you need to do.

 

[Gunner3456]

I have a feeling that the members who are fixed for life and could weather anything financially aren't about to spill their guts on here about their personal situation.

Cheers

 

[CLT65]

I have a feeling that the members who are fixed for life and could weather anything financially aren't about to spill their guts on here about their personal situation.

Cheers

True. I've always found that personal finances are one of those private things in life. Some people are more private than others.

There are all kinds on this forum too, from retirees/disabled living on a fixed income, to the very well off with fancy toys, fast cars, and lots of money in the bank. We're all different, and often at different stages in life. 25 years I was quite poor, struggled month to month. Now we're OK, no fancy toys but we've been careful and worked hard so we're not hurting. 20 years from now, who knows? If something bad happened, we'd survive. We've done it before, we'll do it again.

Few things are as annoying as both the guy who constantly brags about his expensive toys/wealth, and the guy who constantly complains about how broke/poor he is. I remember a guy on another forum a few years ago, who would brag about his exotic sports cars and all his houses. It was comical. He was probably just a teenage boy making it up. He didn't last long. The people I know that have wealth don't typically advertise it.

 

[ma96782]

Speaking of (and since it was mentioned about Kyle).....

Aloha, Mark

 

[CountryGent]

Interesting thread and one that touches upon a topic that I've always consider pertinent; with the possible exception of water, finances is the one I seriously think most preparedness people overlook. Put another way, blasting away at the zombie hordes is sexy, trying to survive on ever dwindling resources not so much.

Random thoughts and addressing the main question:

• Wife grew up lower middle class. Me and the large family under the poverty line and rural. We learned the value of hard work, education (formal and autodidactic), and savings, in our own paths. Both me and the wife have never taken a dime from public assistance, but we've had plenty absconded with at gun point.
• We both helped each other claw our way from pretty humble beginnings to the upper income brackets.
• We carry zero debt. None; house and acreage, vehicles, et al., all paid off. Both abhor such enslavement, both from a mathematic basis, but also the effects on one's ability to bounce back. Being debt free was not easy. I can say with zero reservation; totally worth it.
• Credit cards are a convenience, and some (like the one we use for most cash flow) pays a nice cash bonus. We'd never, ever carry a balance on such an account, because the rates are just insane.
• I handle all the finances and investments. Other than careers, the stock and bond market has provided more in terms of growth and income than pretty much everything else. We started our retirement investments in our early 20s and watching that grow has been a blessing; I've been pouring on the gasoline to get us to a place of early retirement. Gold and silver investments have also done well in the past, but largely don't bother with it now. Haven't bothered much with crypto and, ultimately, don't care because we're hitting or goals with less volatile investments.
• Back to the scenario in the OP; we could run for a few years, comfortably, on savings and investments. We could go longer in hardcore "survival mode". Both been there, done that, don't wish it on anyone. But it can be done when sh¡t gets real bad.
• In the scenario, our retirement plans would suffer, as would the kids UTMAs. And I'd be concerned about health care; wife has a chronic, but well managed health issue, that requires supplies. I have a rare blood condition, but it is now managed through lifestyle changes and keeping an eye on it. Still, medical costs would be a big factor.
• With respect to the UTMAs; I was sent out into the world with next to nothing but the clothes on my back. I understand father's rationale, but I won't do that to my children, because I think he was wrong even if his motives made sense.
• Somewhat paradoxically, I've found being generous in spirit and finances can have a positive return effect. I don't believe in the supernatural or anything that cannot be proven scientifically, but there is something to "karma" or "sowing what you reap", to quote a couple disparate belief systems.
• Last year was one of a few in which I'm glad we were prepared financial; multiple deaths in the family, massively expensive house repairs, medical issues with family members (including one in early 2020 that featured yours-truly double-checking that I had enough life insurance). Pain in the butt; but ground through it like everything else and came through it stronger.
• Neither of us give a rip about the "latest and greatest" on the crap. True, she does some crafts, loves jewelry, and shooting. In addition to firearms and one other hobby (which is shared by wife), I have my scatter-shot interests that sometimes consume my thinking and some small amount of finances. But consumerism is just straight up brain-dead. The older I get, the less I give a damn about "stuff". Not that I did much to begin with, but growing up a "poor kid" it is nice being able to do neat things now that we have resources, but, ultimately, it is just so much noise. Put another way, making money can be done, but none of us can make more time.
• The world is full of human garbage that would very much like a piece of your hard earned resources; protect yourself from such scum as best you can.

Anywho, just some musings. Good topic because a financial crunch is more likely than an atomic exchange, or whatever other scenario consumes the minds of "preppers" (ugh, that word).

Well wishes friends. (Pardon if text is a bit jumbled; just got back from a most curious evening with wife and a friend. Machine mind is processing the new input. But, I digress. )

 

[Caveman Jim]

I'm one of the dumbest people I know. I'll be forked.

You and me both brother.
But truthfully, I can skin a buck and run a trot line, a country boy can survive.

 

[gryghin]

Journalism has really turned into just memes... I mean WTF are we supposed to get from this?

 

[The Heretic]

Few things are as annoying as both the guy who constantly brags about his expensive toys/wealth, and the guy who constantly complains about how broke/poor he is. I remember a guy on another forum a few years ago, who would brag about his exotic sports cars and all his houses. It was comical. He was probably just a teenage boy making it up. He didn't last long. The people I know that have wealth don't typically advertise it.

Yeah, there was a guy on another forum I used to frequent, that asserted he was a "millionaire", a Mossad agent and a sniper, maybe a few other things, I don't recall all of his claims. Teen making it up or not, he was a troll who only made a bad impression.

 

[wired]

If I was wealthy I'd figure out ways to make myself unwealthy real quick buying stuff. I have no desire to have huge amounts of cash. Stuff on the other hand...

Money doesnt bother me. I dont quite understand the hesitancy of people to talk about it.

 

[unionguy]

So it's TRUE!


"The borrower is a slave to the lender."



Shoulda listened to them boring old Bible thumpers about a few things.

doesn't the Bible also say all debts should be forgiven every 7 years (Jubilee)?

 

[wired]

doesn't the Bible also say all debts should be forgiven every 7 years (Jubilee)?

Theres a lot of picking and choosing concerning the bible.

 

[The Heretic]

If I was wealthy I'd figure out ways to make myself unwealthy real quick buying stuff. I have no desire to have huge amounts of cash. Stuff on the other hand...

Money doesnt bother me. I dont quite understand the hesitancy of people to talk about it.

I like having extra $ because I often need it for unexpected expenses. New roofs or house repairs, car repairs, medical/dental expenses not covered by insurance - these things can easily individually cost in the tens of thousands of dollars, and happen with dismaying frequency. If I didn't have those $ in my checking account, I would have had to touch my retirement funds, even with a six figure income.

I am kind of lucky I guess - going from a net worth of less than 6 figures, I have increased that by more than 10X in the past ten years - mostly due to good income, investments and saving, but the timing and duration was fortunate.

Also, I had some significant mostly unanticipated/unplanned, large but temporary, surges of income that helped pay for some highly needed expenses, planned and unplanned.

It could have turned out quite differently - I could have bought real estate just before the 2008 collapse, my ensuing layoff and lost all of my savings - instead, my layoff stopped my purchase plans before I laid out any $. I could have had another long duration of unemployment due to my not keeping up with the latest s/w eng. practices - instead, I lucked out and my outdated experience got me into a long duration employment that paid well.

 

[Stomper]

doesn't the Bible also say all debts should be forgiven every 7 years (Jubilee)?

That's a common mistake, it was referring to noses.

 

[Certaindeaf]

doesn't the Bible also say all debts should be forgiven every 7 years (Jubilee)?

In UK they call hose clamps jubilee clips.

 

[Gunner3456]

Someone told AOC that people were going to have to start growing their own food. She went to the store looking for hamburger seeds.

 

[The Heretic]

Someone told AOC that people were going to have to start growing their own food. She went to the store looking for hamburger seeds.

 

[Gunner3456]

‘Third World’ NYC drug store shelves empty amid shoplifting surge

Thanks to a citywide shoplifting tsunami, bare necessities are now rare luxuries on drug-store shelves across New York City — and the blame goes straight to the halls of power in Albany, NYPD&#8217…

nypost.com

 

[Soli]

‘Third World’ NYC drug store shelves empty amid shoplifting surge

Thanks to a citywide shoplifting tsunami, bare necessities are now rare luxuries on drug-store shelves across New York City — and the blame goes straight to the halls of power in Albany, NYPD&#8217…

nypost.com

"No one could have predicted."

Just getting a jump on the politicians, bureaucrats, activists, and all the others creating a better, more just, society.

 

[Ginnie]

I'd just have to get another job. I've never collected unemployment in my life no reason to start now. If my legs and arms work, I can find a way to make money.

 

[The Heretic]