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Thread: How low can you go?

  1. #21
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    maybe I will get to find out soon, yea that will be my 3rd period of involuntary unemployment so far - weeeee - (yea it will be involuntary even if I up and quit because if things weren't so bad I'm not really the type to quit before something is lined up ... and I have had jobs with long tenure as well). FWIW I do of course have an idea what I spend now a year etc. as mentioned but in unemployment will be a different matter.*

    * I'm beginning to think buying property really is a bad idea for me, because I have to live off savings periodically, unemployed in every recession etc.. At least unless it was some kind of investment property where the mortgage was paid that way and that's another can of worms. So cash savings sure, balanced fund as talked about in another thread beyond that sure (sure it can go down but at least it's liquid) but money I can't get at (and I mean before 59.5 too - I have a 401k but that's absolute last resort) because it is all tied up, yea it pays off in the long run but sometimes I think I won't survive financially until then with the periods of unemployment etc..
    Last edited by ApatheticNoMore; 11-12-17 at 11:43am.
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  2. #22
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    Hoping to keep things close to where they are right now. Costs will eventually go up with inflation. Our current annual expenses are at $18,500. So that is a bare minimum. Need more to maintain savings for things like car repairs etc.

  3. #23
    Senior Member JaneV2.0's Avatar
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    If I downsized from Chez Albatross and its now $6000 tax bill, I could live on 2/3 of my current income, which is modest. But then i probably wouldn't need to.

    Ouch--Apathetic No More! I hope you land in a much better place when the dust has settled!

  4. #24
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    APM: what type of work do you do that you keep getting downsized? May be you could switch to another type of work in which you have transferrable skills.

  5. #25
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    Theoretically $0.00. I believe a homeless shelter would take me in, I could get free healthcare without an income, and eat at soup kitchens. So maybe the question is not how low could you go and live, but how low do you want to go.

  6. #26
    Senior Member dmc's Avatar
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    I can of coarse live on much less, but I retired 10 years ago just shy of my 50th birthday and my wife worked a few years longer and also retired at 50. So far our net worth has gone up quite a bit, so we are still living below our means I suppose. I quit tracking our spending a few years ago.

    We have stayed on my wife’s medical plan and it’s expensive, over $1500 a month now. And we like golfing so the country club gets it’s money. Owning a plane is also expensive, but if money was a problem could be cut, like the country club. We also travel a bit.

    currently we are spending in the low 6 figures I suppose, but could cut 40k to 50k without to much hardship. And we could always downsize the house also.

    But since we are doing fine and we will also be eligible for Social Security one day, I see no reason to cut back.

    And we have also reduced our stock market holdings, we have around 25% in the market.

  7. #27
    Senior Member kib's Avatar
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    This question always fascinates me. I think I could make $1,000 a month + health insurance a pleasant enough day-to-day budget, but the big stuff adds up scary fast. Replace some windows, put in a new furnace and buy glasses and my $1,000 is at least double, maybe triple.

  8. #28
    Senior Member catherine's Avatar
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    Quote Originally Posted by kib View Post
    This question always fascinates me. I think I could make $1,000 a month + health insurance a pleasant enough day-to-day budget, but the big stuff adds up scary fast. Replace some windows, put in a new furnace and buy glasses and my $1,000 is at least double, maybe triple.
    Hey, kid! haven't seen you in a while!

    Yeah, it's easy enough to meander along with a small budget as long as you have no emergencies.

    To Yppej's point, I'm fascinated with the idea that the bottom line could be "0"--think of Suelo, Mark Boyle, Peace Pilgrim, and Heidemarie Schwermer. You have to find your own bottom line, and for some that bottom line is 0.
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
    www.silententry.wordpress.com

  9. #29
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by catherine View Post
    Hey, kid! haven't seen you in a while!
    ....
    Shush! Just...shush! Pretend you dont see her and you wont scare her off.

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