If you stop working, how long can you survive?

Updated on : December 8, 2021 by Malcolm Robinson



If you stop working, how long can you survive?

Hello, I will answer your question as best I can. I will tell you a little about my experience that I went through my parents, they took me out at a very young age I had my son years ago you did not speak I went back to your parents, but it was enough my parents were I defended the rest of my brothers very strictly. I am one of the youngest of 12 I think it was the best thing I did in my life. You made me who I am today. I am very independent raising my son without a father single mother I have no clothes I need the clothes that I had on my back my son was a baby I survived believe me something

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Hello, I will answer your question as best I can. I will tell you a little about my experience that I went through my parents, they took me out at a very young age I had my son years ago you did not speak I went back to your parents, but it was enough my parents were I defended the rest of my brothers very strictly. I am one of the youngest of 12 I think it was the best thing I did in my life. You made me who I am today. I am very independent raising my child without a father single mother I have no clothes I need the clothes on my back my son was a baby I survived believe me some days I did not have it I have no food I always make sure he has something to eat I called one of my sisters and she helped me until I was located, the main thing is that I had to do what I had to do I fought for many, many years when I went to work I made good money I told my son that he no longer had to worry about that because he wanted nice things but that he could have them because I did not have the money to give them to him, but I told him that he had to have them. and not having because I didn't, so now Palmetto business I'm doing Pandora well for 20 years and never went back to my parents' house, they both passed away now, but it taught me a lesson, but don't try. To be someone else like I said I am a simple person I tell you the way it is I will not tell you and they will not 'I like that, but I have been so bad for so many years and I fought too You have a true friend I will be by your side no matter what that person helps you and you always return the favor when they need it.

How long can you survive on your savings without working?

I will assume that when you say savings, you are talking about cash savings and not investments.

Here's the scenario: both my wife and I lose our jobs at the same time the market crashed, and I decide to live off the assets I have in cash rather than take money out of the market. How much time can I spend only on liquid assets?

Good question.

Based on my current expenses, it could be a little over a year (maybe 14-16 months) if we don't change anything about our expenses AND I started taking out loans for my son's college tuition.

Without charging tuition loa

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How long can you survive on your savings without working?

I will assume that when you say savings, you are talking about cash savings and not investments.

Here's the scenario: both my wife and I lose our jobs at the same time the market crashed, and I decide to live off the assets I have in cash rather than take money out of the market. How much time can I spend only on liquid assets?

Good question.

Based on my current expenses, it could be a little over a year (maybe 14-16 months) if we don't change anything about our expenses AND I started taking out loans for my son's college tuition.

Without taking out tuition loans, it would be a little less than a year without changing any expenses.

However, if the above scenario were to happen, I would probably control spending and find some ways to make money and stretch my cash reserves as much as possible.

I generally try to maintain no less than 3 months of expenses in liquid assets and no more than 1 year.

This really depends on the standard of living to which you are willing to fall. That would include necessities like shelter, heating, lighting, basic transportation (and that means not having a car), and of course FOOD!

You have the question of how much capital (money in the bank) and how much will be absorbed by the costs described above. While I know their welfare system is not as generous as the UK's, that money will literally only cover their basic needs. The current "job seekers allowance" is £ 72 per week for a single person. You can get a certain amount of support

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This really depends on the standard of living to which you are willing to fall. That would include necessities like shelter, heating, lighting, basic transportation (and that means not having a car), and of course FOOD!

You have the question of how much capital (money in the bank) and how much will be absorbed by the costs described above. While I know their welfare system is not as generous as the UK's, that money will literally only cover their basic needs. The current "job seekers allowance" is £ 72 per week for a single person. You may get a certain amount of support for your hosting, but only about 25% of your need, if you're lucky. On top of that, you have to deal with local taxes. Again, a certain amount of relief, but even for a one-bed apartment on the outskirts of a big city, around £ 250 a year. The full bill would be closer to £ 1000 if it weren't for the 'relief'.

Food is expensive, and then you have to deal with your utilities. Believe me, having been unemployed for a long time due to circumstances, 72 pounds is not going very far!

To this end, depending on the value of your liquid capital reserves (that is, excluding your property equity) and savings, and you can freely include in that an operating overdraft. Then there is the question of cash flow, that is, the amount that comes from your “benefits” and pensions (if any).

So if you divide your net expenses by your equity and reserves, and assuming you don't re-mortgage your home, that will give you the number of weeks / months you can survive without income.

Of course, if you re-mortgage your home, then even though you will release a fixed value asset on the balance sheet, in cash at the bank, there will still be a balance to pay off that debt; both principal and interest. So even though it frees up a lot of working capital, it is still a long-term liability to be covered from the freed up income. So unless you can invest that to create an income in equity, that's what you'll also have to live on.

It may increase the amount of time you can survive, but again, it ultimately depends on your expenses against income and the deduction for reserves. Divide one into the other, and that will give you your "survival time".

Or do a "Robinson Crusoe" and become "native, hunter / gatherer" - :)

It depends on your definition of work.

There are basically two job definitions.

  1. A paid position with regular pay.
  2. A task or job

I assume you are talking about the first one.

DO THEY LOOK LIKE THEY HAVE A JOB?

Do they appear to be physically / emotionally dead?

No, not them. They look happy.

Hundreds of thousands of years ago, we were like that too. Does that mean we don't survive?

Therefore, human beings can clearly live without a job as long as they agree to it.

SURYA

Right now, based on my annual spending and savings / investments, I could survive for about three years if I didn't earn a penny. But I am also making small amounts of money through some means and could increase them, lengthening that period of time quite a bit. My estimates are that with a part-time job I could potentially last indefinitely, but I wouldn't be saving anything or at least not much, and it sure would be tight at times.

These assumptions are based on using only my taxable accounts and cash savings, not touching anything in my retirement accounts, as that would incur a

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Right now, based on my annual spending and savings / investments, I could survive for about three years if I didn't earn a penny. But I am also making small amounts of money through some means and could increase them, lengthening that period of time quite a bit. My estimates are that with a part-time job I could potentially last indefinitely, but I wouldn't be saving anything or at least not much, and it sure would be tight at times.

These assumptions are based on using only my taxable accounts and cash savings, without touching anything in my retirement accounts, as that would incur a huge penalty. I could potentially scale it, but that still takes five years and my other money would probably run out before that happens.

I should point out that the thought of withdrawing some of that money early makes me break out in a cold sweat. I'd rather find a way to at least cover the expenses and let that money win, even if I'm not adding it. But it's nice to know it's there if you absolutely must use it.

That largely depends on your general circumstances. Some people, because they have the support of the family or the State, never work, neither by choice nor by circumstance (not being able to do so due to disability, for example). If, on the contrary, you are independent, you do not have family or social support, you are not self-sufficient in terms of providing your own food (grown or collected) and you are not open or unable to ask for help. , so I suspect your prospects are pretty grim. We all need the basics of water, food, shelter, and generally clothing and sometimes medical treatment. Unle

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That largely depends on your general circumstances. Some people, because they have the support of the family or the State, never work, neither by choice nor by circumstance (not being able to do so due to disability, for example). If, on the contrary, you are independent, you do not have family or social support, you are not self-sufficient in terms of providing your own food (grown or collected) and you are not open or unable to ask for help. , so I suspect your prospects are pretty grim. We all need the basics of water, food, shelter, and generally clothing and sometimes medical treatment. Unless you are wealthy independently or a ward of the state and receive public assistance, you must work one way or another. Hunter-gatherers do not work in the sense of being employed,

There are financial advisers who say that a person should have between 3 months and a year of money saved in the event of an emergency that can "help" him during bad times. Few people have that amount. That is why our government is issuing stimulus checks and giving an additional $ 600 a week to unemployed people who are eligible for unemployment compensation.

I'm retired, so for now, I don't have to worry. I feel sorry for the workers who are out of work and owe thousands, perhaps, to the credit companies. It will be difficult for these people to recover financially from this pandemic.

It depends on your needs and priorities, as well as your street smarts and your will and determination to survive. I have gone years without a real job, I just worked for myself and made money with the skills I know. He did remodel or home repair work, he was on the lookout for things he could dispose of and recycle, he knew which places threw out good food, he watched the university because the students' parents bought everything from them and he had no respect for money and would find televisions brand new, dvd players, vacuums, whatever, next to the dumpster. I also know how to work in t

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It depends on your needs and priorities, as well as your street smarts and your will and determination to survive. I have gone years without a real job, I just worked for myself and made money with the skills I know. He did remodel or home repair work, he was on the lookout for things he could dispose of and recycle, he knew which places threw out good food, he watched the university because the students' parents bought everything from them and he had no respect for money and would find televisions brand new, dvd players, vacuums, whatever, next to the dumpster. I also know how to work on trucks and motorcycles and many times I have a company that asks me to work in security. I have a lot of skills so I don't really have to work for an employer unless I want to.

I have also been on leave since March 2020. I am saving a lot of money from unemployment and I am not commuting to work. I also saved a lot by working more than 6 years non-stop, so I think I can keep working for a few years. As of now, the EDD is still funding me to have a functional job.

JK is no fun when you apply for 2000+ jobs and you only get 20-30 interviews and none of them made it to the final, I think, because most of these people aren't even hiring. They are just promoting their company and looking for someone to back up in case something happens ...

My wife and I would continue to receive more than $ 100,000 a year for the rest of our lives with Social Security, pension, and the required minimum withdrawals from our IRA accounts. The money I earn from a part-time minimum wage job and her craft work is just the icing on the cake. If we were to need in-house medical care or a nursing home, that could destroy any amount of savings. We could move into a retirement home that covers lifetime care at a fixed price, just like friends ranging from the late 70s to well over a hundred.

I assume your question was intended to apply to younger couples or individuals, not to a retiree like me who lives on investment income and Social Security.

Unfortunately, the average person works paycheck to paycheck, has no savings, and would find it difficult to come up with even $ 500 in cash to cover emergencies like a major car repair or a large medical bill. The only place they can turn is a predatory lender like a payday loan or title loan company with usurious interest rates.

This is why it is so important to establish some type of cash reserve to cover your living expenses during a

Keep reading

I assume your question was intended to apply to younger couples or individuals, not to a retiree like me who lives on investment income and Social Security.

Unfortunately, the average person works paycheck to paycheck, has no savings, and would find it difficult to come up with even $ 500 in cash to cover emergencies like a major car repair or a large medical bill. The only place they can turn is a predatory lender like a payday loan or title loan company with usurious interest rates.

This is why it is so important to establish some type of cash reserve to cover your living expenses for a minimum of 12 months before an emergency occurs. Open a savings account at your bank or through a no-load mutual fund and add monthly by allowing them to draw from your checking account.

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