If you have investments, let’s treat those as liquid cash for the sake of argument. Otherwise, the assumption is that you’re not selling property or possessions, but continuing to live as you do now.
Next weeks paycheck is already spent
Edit- I am very frugal and the money goes toward bills and rent
3 years for my wife and I.
Probably 6-7 if we take money out of retirement accounts.
We have been very fortunate in circumstances. Spend about 2.5k a month. In mid twenties.
About a year.
About a month should be covered
If I was more devoted to my saving, I could probably last a good long while. Like, maybe a couple years worth of just savings, leaving my job and just living worry free. My expenses are moderately low so it’d be stupid easy.
I don’t use my car much anymore, so would consider that liquid, and could make the kids pay some rent now they are working (not much), if I sold that and nothing in the house needed repaired or maintained (ha ha ha) I am at almost 3 years. So I guess if I had some fatal illness and was willing to run out all of both my &my husband’s retirement money I could stop working. Well, no, nevermind, I couldn’t, because the medical care would bankrupt us. But we would not immediately starve anymore. It only took half a century to get here!
Right now, until next month’s mortgage payment comes due. Every time I get something in the emergency fund either an emergency happens or a maintenance that will be an emergency if ignored. Just ordered a new set of car tires about an hour ago, as it happens.
1-2 years before I need to look at selling the house, although hoping that the mortgage will drop when our 2 year fix ends which could push that time up a bit as that is by far my largest expense.
Cash only, about 6 months. Selling assets, 20 years.
13 years ago I had to walk 2 hours after work to get home because I didn’t have a pounds to rent a bike (it was a bank holiday and salary was delayed for a day). My family helped me expanding my education and since things skyrocketed.
A couple months, but
Basically I’ve been saving up for years to redo a leaky moldy bathroom. That wouldn’t get done. Maybe ever
I’ve saved what I could to pay for my kids college. I could ruin their entire future to stay alive
I’m coming up in retirement age with way too little savings. I’ve finally able to put aside enough to catch up a little bit I guess that would go pretty quickly too
A month on current funds and maybe a couple more if I started selling off longer term assets.
Buddy I live deep in the Appalachia mountains. I don’t need money at all. All this technology and civilization bullshit is just a bonus for me, not a need.
Without cutting back at all, even my frivolous spending and holidays, about six months.
If i cut holidays and frivolous stuff, about twelve months.
If i cut back essentials, sold some stuff, eighteen to twenty four months. If on top i downsized the house, probably five years.
If i could make it to seven years then my private pension would kick in and I can retire. If the government hasn’t already moved the age you can draw a private pension i could be retired already.
I’m one of the lucky few who have a pension. I do not have enough savings to last until the pension kicks in, and in any case the pension is less than my current income, but I could live off my pension and social security alone.
I could probably make it 6 months maybe slightly more, I don’t spend a lot as it is and where I live has a relatively low cost of living.
