How long could YOU go without a paycheck?

[Anonymous]

How long COULD we last? We aren't exactly living paycheck to paycheck but we also don't have loads of extra $ once our bills are paid every month.

We have about $7.5k in an investment account, and about the same in cash. So, we could hold on however long it takes to use those up - 3 months, I guess, if we kept paying mortgage, student loans, and the minimum on my husband's (ARGH) never ending credit card bills. (WHY HUSBAND)

In theory we could liquidate our modest 401ks, as well - that's maybe $175k We also have credit cards and home equity that we could deploy. We could probably beg our parents for some small loans as well.

We aren't rolling in extra $$ such that both of us being laid off or furloughed at once would be easy, though. But I would also feel a lot less bad for us than I would for some other people. We don't have kids to worry about, for example.

[Anonymous]

I'd be able to cover about four years' worth of expenses from non-retirement accounts if I didn't change my spending habits. A decade or longer if I reverted to a student lifestyle. Typing this out makes me wonder exactly why I keep showing up at my day job.

[Anonymous]

so sad people live below your means

Mid 30s with kids

250k in investment account bulk earmarked for college but still. We would be fine for multiple years with no income coming in

[Anonymous]

I had to go on a medical leave of absence without pay. I was out for three months and I’m the breadwinner. I carry the mortgage. We were able to put my loans in deferment whicubsaved us. We had $8,000 in savings and it’s down to $599 and I just satrted working again two weeks ago. Had that not been the case could’ve used credit cards or a personal loan from the bank I suppose. Then in another few months would’ve hit one of the 401k. Then the other. So, my accountant husband predicted probably 2 yrs before we are talking about losing our house status. Sooner if my loans weren’t in deferment.

[Anonymous]

Anonymous wrote:so sad people live below your means

Mid 30s with kids

250k in investment account bulk earmarked for college but still. We would be fine for multiple years with no income coming in

that's easy to say and do when your means are robust.

[Anonymous]

On just our cash on hand we could fully cover 8 months of either of our salaries, 4 months if we were both off. Then we’d have to start selling stock, which would float us for quite some time. But I’d rather not go there, on either count, for the purposes of this furlough. I actually hope to not get to the point of needing to even transfer cash on hand to our checking account. At the moment we can cover January’s bills and February from what’s already in checking and H’s paychecks as I didn’t move money to the various accounts I usually do when I got my last December paycheck since we were already on furlough.

[Anonymous]

A month on cash.
Beyond that I don’t know. Possibly another month getting creative with credit. (I would have to start that sometime during month 1)

Hhi110 but huge student loans for which we pay extra, and with that extra halting too we could go another month longer. Again would need to halt hat during month one.

So 3 months.

[Anonymous]

Anonymous wrote:A month on cash.
Beyond that I don’t know. Possibly another month getting creative with credit. (I would have to start that sometime during month 1)

Hhi110 but huge student loans for which we pay extra, and with that extra halting too we could go another month longer. Again would need to halt hat during month one.

So 3 months.

We live in low COL.

Plenty of family would back us up for groceries and gas too.

[Anonymous]

Anonymous wrote:so sad people live below your means

Mid 30s with kids

250k in investment account bulk earmarked for college but still. We would be fine for multiple years with no income coming in

O.k. so you would live off your kids' college funds?

[Anonymous]

If we lost my income, we would be ok with just DHs if we cut down on things like housecleaner, vacations, and our hobbies/entertainment. If we lost his, we would be ok for 6 months. Then DH would need to at least get a part time job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:so sad people live below your means

Mid 30s with kids

250k in investment account bulk earmarked for college but still. We would be fine for multiple years with no income coming in

that's easy to say and do when your means are robust.

We don't have a robust income. We save, live in a small sh@t shack, and drive older cars. We do spend what we want within reason but we love under our means to save for an emergency, college and retirement. We could get a nicer house but I'd rather be financially comfortable and not be stretched.

[Anonymous]

A couple of years? I have 200k in cash and stocks (saving for a rental). My mortgage is $2k a month.

I am a furloughed fed. I’ve been thinking of applying for other jobs, but how to do that if I don’t have an ethics officer to get permission for outside employment? I don’t think I’m going to be essential.

[Anonymous]

We went 3 months this summer when DH was between jobs. We didn't want to pull DC out of day care and lose the spot when he did start a new job. Basically on my salary we can get by on all our bills except day care.
Right now I'm the furloughed one, though, so we can't quit day care....

[Anonymous]

Pp here. Also, most feds make under 100k. Our parking lot is more like 5 year old Mazdas than new cars or luxury cars. Sure we make good salaries but we’re well educated. Nearly everyone has a bachelors and many have masters and PhDs.

[Anonymous]

Anonymous wrote:A couple of years? I have 200k in cash and stocks (saving for a rental). My mortgage is $2k a month.

I am a furloughed fed. I’ve been thinking of applying for other jobs, but how to do that if I don’t have an ethics officer to get permission for outside employment? I don’t think I’m going to be essential.

Simple.

If you work for the USDA, dont go get a job at Monsanto. You wont get un trouble if you act on good faith. Nobodybiangoing to pull you up on ethics violations for working for Uber or getting on Rover.