If I lost my job today...
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From: Sun★Works
Originally Posted by S2KBDub,Jul 2 2008, 10:11 AM
I'm the same way Rich. I recently did lose my job, and i'm looking at it as a nice break. Granted I did get severance, but when that runs out, if I don't have a job, i'll still be fine for quite a while before dipping into any of my portfolio, selling assets, or liquidating any of my savings.
The only thing that sucked about losing my job, aside from the obvious, is the fact I had to give my company car back
Oh well, here's to a new TL 6-sp navi
The only thing that sucked about losing my job, aside from the obvious, is the fact I had to give my company car back
Oh well, here's to a new TL 6-sp navi
Even if you have truly liquid cash to expend, why would you decrease your wealth in any avoidable way? Why not get some kind of job while you are actively seeking the job you want?
Coming from a jealous standpoint: If i had any sum of money I could live off of for months without worry or dipping into assets, I would consider that part of my assets and not damage that buffer zone if I could avoid it. Spending that money will cost you more in the long run.
If you have enough money to live for 6 or more months in your checking account, then you have too much in your checking account. You need that extra cash in some kind of interest bearing account or something.
I could see maybe a month at the longest for resting on your laurels, but even then, I would be actively seeking employment while "taking it easy".
To me, the poll's question is self-destructive thinking. I don
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From: Houston, Texas
Originally Posted by PrimoGen,Jul 2 2008, 12:30 PM
even if you have truly liquid cash to expend, why would you decrease your wealth in any avoidable way. why not get some kind of job while you are actively seeking the job you want.
coming from a jealous standpoint: If i had any sum of money I could live off of for months without worry or dipping into assets, I would consider that part of my assets and not damage that buffer zone if I could avoid it. spending that money will cost you more in the long run.
If you have enough money to live for 6 or more months in your checking account, then you have too much in your checking account. you need that extra cash in some kind of interst bearing account or something.
I could see maybe a month at the longest for resting on your laurels, but even then, I would be actively seeking employment while "taking it easy".
To me, the poll's question is self-destructive thinking. I dont know how long I could go because I would make it my goal in life to become employed again (either for myself or for someone else) in the shortest time possible regardless of my ability to postpone it.
I guess I feel the under-current of this thread is another dick measuring contest. I mean seriously, who is going to actually sit there and try to see how long they could last on the $$ they have on hand?? If that notion is silly, then what are we discussing? It comes down to people posting how much money they have (or how much they want other people to think they have).
The notion is silly because I believe all of us would be smart enough to actively seek employment as soon as they became unemployed, regardless of how much expendable cash they had at the time. it would just be wasteful to spend that money being lazy, IMHO.
And like I said before, if we lost our jobs with no hope of finding another one, the wealth we have amassed would probably not mean much in the Road Warroir future we would be in.
I am not picking on anyone's reply in here and I only quoted this one becasue it was the one that spaked this thought from me. The poll is valid, I guess I am just objecting to its apathetic outlook.
my $44.75 worth
coming from a jealous standpoint: If i had any sum of money I could live off of for months without worry or dipping into assets, I would consider that part of my assets and not damage that buffer zone if I could avoid it. spending that money will cost you more in the long run.
If you have enough money to live for 6 or more months in your checking account, then you have too much in your checking account. you need that extra cash in some kind of interst bearing account or something.
I could see maybe a month at the longest for resting on your laurels, but even then, I would be actively seeking employment while "taking it easy".
To me, the poll's question is self-destructive thinking. I dont know how long I could go because I would make it my goal in life to become employed again (either for myself or for someone else) in the shortest time possible regardless of my ability to postpone it.
I guess I feel the under-current of this thread is another dick measuring contest. I mean seriously, who is going to actually sit there and try to see how long they could last on the $$ they have on hand?? If that notion is silly, then what are we discussing? It comes down to people posting how much money they have (or how much they want other people to think they have).
The notion is silly because I believe all of us would be smart enough to actively seek employment as soon as they became unemployed, regardless of how much expendable cash they had at the time. it would just be wasteful to spend that money being lazy, IMHO.
And like I said before, if we lost our jobs with no hope of finding another one, the wealth we have amassed would probably not mean much in the Road Warroir future we would be in.
I am not picking on anyone's reply in here and I only quoted this one becasue it was the one that spaked this thought from me. The poll is valid, I guess I am just objecting to its apathetic outlook.
my $44.75 worth
There were times in the United States when the unemployment rate hit 25% (Great Depression), and during that time period it was hard to find even a McJob. Even though the economy isn't doing so great right now, I think the chance of unemployment hitting 25% is very slim.
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Yeah, I think this is a perfectly valid question. It gets people thinking about whether or not they have enough of a "rainy day" fund built up. Honestly, I know that I don't have enough cash put back. Sure, I've got my 401k and IRA and some other investments, but I'd be hesitant to cash them out. But, since I have very little in my cash savings, then I'd be forced to start pulling from those other accounts earlier that I'd like to.
Honestly, if I got laid off and knew that I had 6-9 months' severance coming to me, plus some unemployment benefits after that, I'm likely going to take at least a month or two as a sabbatical, just to gather my thoughts and relax a little bit and re-evaluate where I want to go from here. Then, I might start getting serious about finding a new job. I see no reason to rush back into the workforce if you can afford to take a break for a little while. I figure I've earned a break by now. If I have to dig into savings a little bit, then so be it. It's no different than digging into savings to take an exotic vacation or do something else for yourself to make life more enjoyable.
Honestly, if I got laid off and knew that I had 6-9 months' severance coming to me, plus some unemployment benefits after that, I'm likely going to take at least a month or two as a sabbatical, just to gather my thoughts and relax a little bit and re-evaluate where I want to go from here. Then, I might start getting serious about finding a new job. I see no reason to rush back into the workforce if you can afford to take a break for a little while. I figure I've earned a break by now. If I have to dig into savings a little bit, then so be it. It's no different than digging into savings to take an exotic vacation or do something else for yourself to make life more enjoyable.
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[QUOTE=PrimoGen,Jul 2 2008, 09:30 AM]
Even if you have truly liquid cash to expend, why would you decrease your wealth in any avoidable way? Why not get some kind of job while you are actively seeking the job you want?
Coming from a jealous standpoint: If i had any sum of money I could live off of for months without worry or dipping into assets, I would consider that part of my assets and not damage that buffer zone if I could avoid it. Spending that money will cost you more in the long run.
If you have enough money to live for 6 or more months in your checking account, then you have too much in your checking account. You need that extra cash in some kind of interest bearing account or something.
I could see maybe a month at the longest for resting on your laurels, but even then, I would be actively seeking employment while "taking it easy".
To me, the poll's question is self-destructive thinking. I don
Even if you have truly liquid cash to expend, why would you decrease your wealth in any avoidable way? Why not get some kind of job while you are actively seeking the job you want?
Coming from a jealous standpoint: If i had any sum of money I could live off of for months without worry or dipping into assets, I would consider that part of my assets and not damage that buffer zone if I could avoid it. Spending that money will cost you more in the long run.
If you have enough money to live for 6 or more months in your checking account, then you have too much in your checking account. You need that extra cash in some kind of interest bearing account or something.
I could see maybe a month at the longest for resting on your laurels, but even then, I would be actively seeking employment while "taking it easy".
To me, the poll's question is self-destructive thinking. I don
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From: Sun★Works
Originally Posted by S2KBDub,Jul 2 2008, 02:17 PM
In the 2 months i've been without employment, i've been getting paid, as well as actively seeking and interviewing for new positions. Thus, I'm not liquidating any of my savings for the purpose of just "sitting around". People are losing their jobs more and more every day. It's really just crazy. Shortly after my company cut the division I managed, Merck laid off over 1500 people.
I agree that desperate times do call for desperate measures; ie: a McJob, but why wouldn't you hold out for something you wanted and was a better fit for your skill and educational set vs. taking the first thing which comes up?
I agree that desperate times do call for desperate measures; ie: a McJob, but why wouldn't you hold out for something you wanted and was a better fit for your skill and educational set vs. taking the first thing which comes up?
Obviously try to to regain employment your field, but, until it presents itself to you, do something to offset your expenses.
Old axiom: Because you can do a thing does not mean you should do that thing.
I am not jumping anyone's case just presenting a logical thought.
the great depression could happen very easily. Even in that case, people had to adapt quickly or suffer. I think trying to coast as long as you can on what you have is silly, especially in a situation like a depression.
I would be digging ditches with the quickness to sustain whatever wealth I had should that scenario come along.
IMHO the best answer to the question in this thread is: Out of prudence, not very long at all.
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From: MAHT-O-MEDI
I have very little cash savings. I put everything I can into retirement accounts. I would last about two weeks on what I have.
However the payout from my employer upon separation would carry me for about 4 months.
However the payout from my employer upon separation would carry me for about 4 months.
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Originally Posted by PrimoGen,Jul 2 2008, 11:38 AM
its a simple notion of keeping your accumulated wealth. why not decrease your expendatures when and where you can. get some kind of job to offset the expenses that will continue regardless of employment.
Obviously try to to regain employment your field, but, until it presents itself to you, do something to offset your expenses.
Old axiom: Because you can do a thing does not mean you should do that thing.
I am not jumping anyone's case just presenting a logical thought.
the great depression could happen very easily. Even in that case, people had to adapt quickly or suffer. I think trying to coast as long as you can on what you have is silly, especially in a situation like a depression.
I would be digging ditches with the quickness to sustain whatever wealth I had should that scenario come along.
IMHO the best answer to the question in this thread is: Out of prudence, not very long at all.
Obviously try to to regain employment your field, but, until it presents itself to you, do something to offset your expenses.
Old axiom: Because you can do a thing does not mean you should do that thing.
I am not jumping anyone's case just presenting a logical thought.
the great depression could happen very easily. Even in that case, people had to adapt quickly or suffer. I think trying to coast as long as you can on what you have is silly, especially in a situation like a depression.
I would be digging ditches with the quickness to sustain whatever wealth I had should that scenario come along.
IMHO the best answer to the question in this thread is: Out of prudence, not very long at all.
If I were not lucky enough to be in the position I am however, I would not negate your statement. I would have no choice than to get a "McJob" and suck it up which I continued to search for something more desirable.
None the less, these are the times when i'm glad I have a TL and an s2000 as opposed to a Cayman and an S4.
None the less, God bless anyone who's job is in jeapordy. It's a shitty experience, but for going through such a bad experience, i'm in a good place.
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