How many months of living do you have saved?

[Kiopa_Matt]

Say shit hits the fan, and your revenue drops to $0 overnight. How many months of savings do you have saved to take care of yourself and/or your family?

 

[evolutionvision]

I think it's tricky with our group. Strictly living expenses, about a year... But most of us would also need enough capital to restart something to bring in new income.

 

[Esquire]

Never less than six months but I'm working towards a full year's-worth

 

[jeffrey]

If I really got desperate, I could cash in about two years worth of silver.

 

[infoslob]

I could probably last the weekend.

 

[dmnEPC]

you should not feel comforble with any less than 6 months income in cash (or bank act) sitting in reserves. A year to 18 months is ideal. This means dont be dumb and put your extra money in some kind of investment. This saftey net needs to be extremely liquid. But not so liquid that you will go and piss it off on hookers and blow tonight.

 

[kumansk]

My wife found out about the stash..

 

[Veritas]

I have about one year saved if I lose my job/domains/sites

 

[Dwight Schrute]

Cash will be great when hyperinflation hits and the dollar loses all its value.

 

[mattseh]

I have a normal savings account that could probably last me 9 - 12 months.

I also convince myself that I don't have money in other accounts, it's safer that way.

No drunken flight buying has really helped bring my spending under control.

 

[Kiopa_Matt]

you should not feel comforble with any less than 6 months income in cash (or bank act) sitting in reserves. A year to 18 months is ideal.

Agreed. General rule of thumb is 6 months, but that's for "normal people" who generally have stable jobs and 2 or 3 year salary contracts. For us on the other hand, I'd say 12 - 18 months is better.

Never know when shit is going to hit the fan, and never know how long it's going to take to get back on your feet.

 

[Rusky]

 

[dmnEPC]

Agreed. General rule of thumb is 6 months, but that's for "normal people" who generally have stable jobs and 2 or 3 year salary contracts. For us on the other hand, I'd say 12 - 18 months is better.

Never know when shit is going to hit the fan, and never know how long it's going to take to get back on your feet.

Agreed. For those of us that lack discipline, no ATM card, no checks, separate bank account, separate bank, separate city. The less discipline you have the tighter the controls. And if you can't trust yourself get a joint account with a trusted person which can only be accessed w/ 2 signatures. Once you start saving it gets easier, them it gets exciting and becomes a game

 

[~~@~~]

I got .000000001 seconds of a day worth in money.

 

[thehobbster]

I've only gotta last about 3 more years until I can access my trust fund.

 

[mGrunin]

100 months.

 

[Cshark]

Prolly about 3 years if all my businesses were to shut doors on the same day.

I have diversified my business to different unrelated sectors. Keeping different portfolios has its distinct advantages.

 

[Rusky]

Having no debt also helps.
Worst case all you need is basic expenses. But one should have at least 6 months liquid; life is better that way.

I noticed people that get ready for a rainy day; almost never get one or maybe they dont notice it.

 

[cardine]

In cash, 4-5 years.

Including assets that could be liquidated... way more than that.

 

[seohug]

About 9 to 12 months. Been working really hard to get to that.

Mind you, I had piles of debt to get rid off before I managed to start saving.

Keep in mind that regardless of how much savings you have, it can be completely wiped off in a day in unfortunate circumstances; health reasons, wicked partner or someone suing your ass to oblivion.

Nothing in life is %100 disaster proof, we just try to improve our odds.