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If you lost your job today...

How long could you go without a job, and maintain your current lifestyle, before you had to find something else?

by Anonymousreply 3706/27/2013

Probably the rest of my life (I'm 49).

The bf has a good job, we have no debt, own the house, and a have lot saved up.

We have been very, very fortunate.

by Anonymousreply 106/26/2013

What's so amazing is that most American's can actually survive on little money IF they didn't have to pay for health insurance, have large mortgages or pay high rents. Most people could survive on low incomes if these three factors were not on the table.

You don't need cable etc.

A friend who has lived on the LES since the late 1970s, and has a fairly low rent ($575), was out of work for four years due to complications from a heart condition they didn't even know they had.

Thankfully, they were able to get Medicaid and survived quite nicely by taking freelance and a few off-the-books jobs. They reported the freelance and off-the-book jobs to their Medicaid office. As per the current Medicaid rules, as long as your income is less than $1,000 a month, you can keep your health insurance and food stamps.

The friend is now back to work in their field. Health care costs are the biggest obstacle to most American's financial survival, this is not the case in other countries. America should be ashamed that citizens can become bankrupt due to inflated health insurance premiums.

In case anyone is interested, health insurance companies collect about 30%-40% of healthcare costs, yet do absolutely NOTHING for it. There is actually no valid reason for health insurance companies to exist.

by Anonymousreply 206/26/2013

I'm a hairdresser so I'm indestructible. I'd just have my clients come to my house or go to theirs.

by Anonymousreply 306/26/2013

Well today's payday so, about 2 weeks.

Maybe a little longer until my prescriptions run out, but I wouldn't be able to get refills.

by Anonymousreply 406/26/2013

About a year.

by Anonymousreply 506/26/2013

I call dad and get a check.

by Anonymousreply 606/26/2013

Another one who could go indefinitely. When I was last unemployed, I got to wait 2 and a half years for the perfect job to come along, I was so grateful. If I had to rush out and get some hourly job just to make ends meet, I would have become stuck because job searching is a full time job and that's hard to do when you're working.

The benefits of marriage....

by Anonymousreply 706/26/2013

Prob forever...8.5 m in the bank plus own my nyc apt and country house no debt..

by Anonymousreply 806/26/2013

I would recommend not breaking up with your boyfriend, R1.

by Anonymousreply 906/26/2013

[quote]maintain your current lifestyle

I don't have a "lifestyle", I have a life.

by Anonymousreply 1006/26/2013

[all posts by ham-fisted troll a removed.]

by Anonymousreply 1106/26/2013

At 53, I'd be okay. I could live into my early 90s (not that I want to) at the same standard that I enjoy now -- and possibly better, given I've been putting two-thirds of my income towards savings and retirement investments.

by Anonymousreply 1206/26/2013

[quote]I don't have a "lifestyle", I have a life.

I agree with this. What's a fucking "lifestyle" anyway?

by Anonymousreply 1306/26/2013

That's the furthest thing from my mind, R9. I love him to pieces. And I make a lot more money than he does -- go figure!

by Anonymousreply 1406/26/2013

A year or two before I'd have to sell my house and/or dip into my retirement savings. Possibly the rest of my life at a reduced standard of living.

by Anonymousreply 1506/26/2013

[quote] maintain your current lifestyle

I had a "lifestyle" - and then I grew up and got a life.

by Anonymousreply 1606/26/2013

One month, tops.

by Anonymousreply 1706/26/2013

I lost my job last week. This one got sent overseas.

I had been out of work for 2 years when I landed this job a little over a year ago. This one barely paid my living expenses. My savings were depleted the last round of unemployment.

I did pay down my debt as much as I could. Right now I have about $2000 in credit card debt.

I have $250 in my checking account. I'll get my last paycheck on Friday.

I've been told I'm going to get a whopping $290 a week in unemployment.

I give myself a month or two.

by Anonymousreply 1806/26/2013

R8...what up? lol

Seriously, about a year...then will hit dad up for any needed assistance.

by Anonymousreply 1906/26/2013

Sorry to hear it R18. My bf was unemployed for 6 months last year and it was a tough, ugly time. Just when we were about to start pawning stuff he found something. We're only now getting back on our feet. If one of us were to lose our jobs tomorrow then we'd be well and truly fucked. Right now we're doing okay. Good luck to you.

by Anonymousreply 2006/26/2013

I did lose my job today, now that you mention it.

by Anonymousreply 2106/26/2013

"Lifestyle" is a concept invented by Californians.

by Anonymousreply 2206/26/2013

I thought Lifestyle was a condom.

by Anonymousreply 2306/26/2013

Thanks R20.

I suspect I'll be okay. I always land on my feet, but it's really discouraging to have to go through this all over again so soon.

by Anonymousreply 2406/26/2013

We'd have to sell some stocks.

by Anonymousreply 2506/26/2013

I should be okay but thanks for asking, OP.

by Anonymousreply 2606/26/2013

About a year if I tighten my belt, maybe 6-8 months if I don't . My retirement savings, if it comes to that, would last a few years, maybe 8-10. Another option is to sell our home which has a lot of equity in it and move into one of the apartments in our multi-family investment house. The other rents almost would cover the costs involved and we probably could live on very little, so I guess we are fortunate, although its not the life we worked for or want at least we wouldn't be in ruin like so many others.

by Anonymousreply 2706/26/2013

Slightly OT, but where's the best place to keep your savings besides (in addition to) a 401(k) or IRA?

by Anonymousreply 2806/26/2013

If I quit my current job my standard of living would go way up.

Chew on that.

I also know how to live on as ilttle as $9k a year (after taes), much better than you would ever dream possible. I even qualify for disability, but I'd have to pay it back the second I got it since I'd start using it to make more. Anyone without a job would qualify for Medicaid anyway, plus there are community health centers that only check for residency (they're just slow).

If I quit my current line of work, I would probably wind up retired comfortably.

by Anonymousreply 2906/26/2013

[quote] Anyone without a job would qualify for Medicaid anyway

Um no, they wouldn't.

by Anonymousreply 3006/26/2013

So basically, ya, all are rich gays on the DL. I am living off food stamps right now. Just got approved. Whohoo, I have a whopping $5.50 per day to spend on all 3 meals.

by Anonymousreply 3106/26/2013

A lifestyle is much different than your life. R10 probably has a clothesline in his backyard.

by Anonymousreply 3206/26/2013

[quote]A lifestyle is much different than your life. [R10] probably has a clothesline in his backyard.

Actually R10 sounds like a grown up, not a pretentious twat.

A "lifestyle" is what pompous douchebags have. A life is what normal, mature men have.

by Anonymousreply 3306/27/2013

Not as long as I'd like, OP.

I'm in the process of saving every penny I make, for the next 12 months. I plan to move next year, and I want to be very comfortable financially before doing so.

by Anonymousreply 3406/27/2013

I'd have to live in a cardboard box. I was out of work for two years and was trying to pay off $50,000 debt. I'm doing okay, but my savings were obliterated and I am living from paycheck to paycheck.

by Anonymousreply 3506/27/2013

Not long at all. Two years ago my partner lost his job. It took about 6 months for him to find another at a comparable wage. Unemployment benefits in our state get roughly half of what your weekly paycheck was...maxing out at something like $500 a week. Doesn't sound bad UNTIL you find out that COBRA is going to cost $1600 a month. He has some health issues and could not afford to have a lapse in coverage nor switch to a private plan that did not cover medications (without ins. they would run about $4,000 a month).

Then, two months after he lost his job my company went bankrupt. Two of us now out of work. I was not on his health insurance and decided to let mine go...again, cost of COBRA.

We hung on until we were both working again but it was rough. Now, I am on his health plan since this employer offers it. But, for the first 12 months everything for me was considered a pre-existing condition and they would not cover it. I ended up in the ER at one point and those bills ran around $6,000. Back behind the 8 ball again.

I managed to find something part time....full time jobs here are practically non-existent.

We cut out anything not essential and are still managing but anything "fun" is back-burnered. Good times.

by Anonymousreply 3606/27/2013

R36 - At the risk of being a big ol' Mary, I'm sending you positive thoughts and I hope things turn around soon for you.

by Anonymousreply 3706/27/2013
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