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how long can you last if you are laid off?

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Just off savings? 3 months but we're saving to get that up to 6 months. This is assuming my wife still has her job and I have lost my main job, not my PT consulting gig.

If this includes living off savings and credit, then I'd take out a balance xfer check and deposit about $30,000 into my checking. That plus savings would get us by for a year if we kept up our current standard of living, 18 months if we really penny pinched.

 
I have enough money in the bank to pay rent/basic utilities for 3 months assuming I put all groceries and gas and whatnot on my credit card.

if I couldn't find a job within a month, though, I'd probably start making arrangements to move back in with my parents. it would widen my job prospects at least by putting me close enough to NYC to look for jobs there.
 
Uh oh. My vote skews the poll. I thought the question was, "how long can you go without getting laid?"
 
Originally posted by: mugs
Well, my wife works so it's just be a slow drain on the bank account.

If we both lost our jobs we could last over a year on liquid savings; longer if we cashed out the mutual funds, and longer still if we cashed out our retirement accounts.
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Yeah - there needs to be a cut off before you dip into retirement or other investments. This is why it's so important to have 6 months living in savings. Once you include the others it could be many years but stupid to do so. Plus unemployment could cover the bills so even 6 months savings could last you a year.
 
years. Probably decades. First thing I would do is sell some of my toys. I've decent amount in savings and liquid investments. My house is paid for, and I've no debt other than my Corvette which I've positive equity and can sell anytime to raise cash.
 
About 10 years if I liquidated stuff down and minimized expenses. No car payments, no mortgage payments, health care is my biggest expense that I would hold onto, and I don't mind sharing a house to save on rent, eating pasta regularly, doing without tv, doing without both a landline and cell, etc. I don't buy music, dvds, could cut out my wine buying habit. A few years back I was making about 30k a year, living comfortably, making all my expenses and still saving a decent amount.

My parents went through near-bankruptcy my first year in college and it scared me into saving like crazy.
 
Originally posted by: RichardE
Originally posted by: NSFW
18 days so far for me. If something doesn't happen by Friday, I might have to take a look at selling a couple things.
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I'd buy your body :heart:
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I'm browsing myspace right now for overweight cougars with incomes > $100k. I'll let ya know.
 
I have about four months' salary in the bank. Since I usually save half my paycheck, I guess that puts me at the eight month mark. But I voted conservatively at 3 months.
 
Originally posted by: RichardE
Originally posted by: clamum
Probably over a year. I have $16k in the bank: rent + utilities is about $250/month, plus food, plus $40 cell phone bill, plus some entertainment expenses (minimal now, I'd cut down even more) per month.
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WTF do you live in? a shoebox?
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:laugh: Naw, two bedroom apartment, and decent size IMO. Rent is $300/month but I have a roommate. Small cities ftw though even $300 here for a decent two bedroom is pretty damn cheap.
 
Unemployed, full time college student here. But I have enough in savings to last a month or two if I somehow lost all support from the parents and was kicked out of the dorm.
 
Originally posted by: clamum
Originally posted by: RichardE
Originally posted by: clamum
Probably over a year. I have $16k in the bank: rent + utilities is about $250/month, plus food, plus $40 cell phone bill, plus some entertainment expenses (minimal now, I'd cut down even more) per month.
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WTF do you live in? a shoebox?
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:laugh: Naw, two bedroom apartment, and decent size IMO. Rent is $300/month but I have a roommate. Small cities ftw though even $300 here for a decent two bedroom is pretty damn cheap.
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You live in Michigan. No wonder.
 
I'd move back in with the parents. Have about 30K in savings/checking/stocks, another 20K in retirement funds. Expenses would be near 0.

If I continued my current lifestyle (which is ending anyway this week because I'm moving from $1250/month apt to $650/month place house with a friend), and kept average CC about 1200 a month, that would be about $2500/month. That would be about 1 year. But I could cut that CC bill way down..
 
indefinitely, bc i have a sugar momma
if she were laid off too... with our combined savings could probably live cheaply for 9 months. after that would need to cash out retirement plans or sell the house
 
I have about $40K in the bank, with no debt other than my car. If I get rid of the car (a new M3, so it's damned expensive) and reduce rent/bills, I can last quite a while. I also have about $8K in stock, and some other money owed me from escrow from a corp buyout which could be up to $16K.
 
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