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.
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.
Many years technically, but I doubt the stability of… well, everything, too much to say that with much conviction.
3 months at the absolute most, likely significantly less, even after cutting out all “luxuries” like paying for internet/phone/electricity/water.
70% of that would go on rent for my 1-bed flat. And no - I don’t live in a big city. I earn more than most. I spend less than most. I don’t use any subscription services and I pirate everything. I don’t drink, and I never go out to pubs, cinema, (insert paid activity here) because all of that is way too expensive.
The UK is fucked.
Literally the only thing that decides how long I can live is whether or not you rent - whatever you do or don’t do as personal responsibility practically does not matter unless you own a house.
The small variations in rent price are also irrelevant, I used to pay more for less, in the grand scheme of things the variance only amounts to £100-200 per year and usually depends on how much you can tolerate free penicillin on the walls.
The blame is only on boomers who hoard property, jack up rents and collect benefits from the gov’t off worker taxes. Virtually no one else is to blame apart from capitalism more generally.
The same boomers will also soon elect the alt-right and things will get a lot worse and everywhere else seems to be on the same general trajectory.
I used to dream of a utopia like Star Trek. Now 28 days later looks like a utopia.
Next week.
A month, maybe. I’d probably get arrested for squatting at work sooner, tbh. If I cut and run to the woods tonight, I could probably make it further, but I’ll run out of food money faster than I could get a reliable food source going before winter hits
I just ran the numbers for the first time ever, and it adds up to 34 months - which I realize is a pretty privileged place to be. However, I’m by no means rich; I just live well below my means and invest all my savings.
Dude, you are rich.
Depends on who I compare myself to and how one defines “rich.” To me, it means someone whose passive income exceeds their spending - and I’m nowhere even close to that… yet.
Yeah I think that’s where the distinction between rich and wealthy comes in. You still have to work for a living and are closer to homelessness than renting out Venice for a wedding (for instance).
I’m in my mid 40’s.
It’s not particularly uncommon for people in regional Australia to own their own house with no mortgage by my age.
It’s pretty tough to find a family home that costs less than 10x average wage.
So, as a kind of line in the sand I’d say maybe a third of 45 year olds living in regional Australia could “survive” for 10 years with no income.
How do you know how to invest? Asking for a friend.
I don’t. I do it the boring way - buying cheap, highly diversified ETF index funds.
That’s way more than most people know… Also, wtf is an ETF?
- Open a Vanguard account.
- Buy as much of the thing called VOO as you can each month.
- Come back at retirement age to oodles of money.
There are a load of resources online. The UKPersonalFinance subreddit is a good place to start, mainly their wiki and external website, and a lot of the advice is applicable outside of the UK too. If you don’t want to read or think much, then just pick a broad index fund with 0.2% or below of fees and put your savings in there.
I ran the numbers and got 19 months.
Although realistically if I stopped receiving any income my monthly spend would drop - I would certainly spend less on food and luxuries, which would buy me at least an extra 2-5 months.
I know you excluded it, but again if my income stopped then at some point I would sell my house. if I used the sale money to pay off the mortgage and then start renting a flat I could go without income for about 8-10 extra years (that surprised me!).
I’m 31. My salary is a bit above average for the uk but not by that much. I just barely ever spend money. It’s quite cheap to be terminally online and stay indoors most of the year.
I’m still recovering from the mistakes I made 8 years ago, for another 3 years maximum, so no savings,
The rest of this month.
If im lucky its about 2 months.
A month?
About 30 months without any cutback on spending. Pure living costs is about 60 months.
If I’m frugal, about a year. But I own a small business and this would only occur if my business is bankrupt. In which case debtors might chase my personal assets.
Around 4 months. But I could considerably decrease the rate of spending if that was an actual scenario, which would give me more like a year.
About a year.
