How long could you manage if you were fired tomorrow?

MEM62

Around 10 or 11 months for me based on what is in the bank. I could last around 18 months or so if I started to liquidate assets such as my motorcycle etc.

Apodemus

About 12 years, if I worked my way through the investments but after that I would be stuffed for living in retirement!

isaisababy-

Probably about 1 month. Each month I do have about £300 spare to spend, but I cannot seem to save the money and need to get the motivation to stop spending so much

This post does put it into perspective how important the need for savings are!

Mrs_Z

With some belt tightening possibly could exist for foreseeable time. I would not call it 'living' though. Financial security has always been a big thing for me, and over the years we have invested in a holiday property as well as BTL and made overpayments in our current mortgage any spare cash allowing. BTL yields a small profit but as not needed, it's used into over paying the BTL mortgage. Holiday home is not rented out but potentially could be OR either property could be sold. So we have a couple of options there.

colsten

Mrs_Z wrote: »

With some belt tightening possibly could exist for foreseeable time. I would not call it 'living' though. Financial security has always been a big thing for me, and over the years we have invested in a holiday property as well as BTL and made overpayments in our current mortgage any spare cash allowing. BTL yields a small profit but as not needed, it's used into over paying the BTL mortgage. Holiday home is not rented out but potentially could be OR either property could be sold. So we have a couple of options there.

How would you draw the immediate cash you would need to survive?

KNJ_2

Happy to say
Cash reserves 5-8 years, investments another 15- 20 years.
Still not happy though. Approaching 55 and in insecure work, so banking all I can at the moment. Hopefully the OH and I live long enough to use it.

PeacefulWaters

Three years without any change to lifestyle.

redmalc

We have thought about this for the last decade,company sold and purchased three times in the last five years so every pay day is a bonus
We have ten years reserves and I think my days are numbered with redundancy looming in the next few months got twenty years service so on maximum payout.

Mistermeaner

Really good thread.

I've a total of 2 months net take home available in readily accessible cash..... doesn't seem enough but I balance that with a couple of things - my contract at work means they need to give me 12 month notice and also I'm in maximum mortgage overpayment mode, my mortgage interest is sub 300 per month but I'm paying off an additional 1200 a month over that.

I would say I'm cash light and highly geared in terms of payments but with the long notice period I have chance to move to interest only and my savings would last alot longer.

No other debts.

Thinking is get mortgage gone asap (currently just 3 years left) as then can focus on serious saving (extra 1500/month) to secure early retirement.

NB still putting 1200/month in pension and 300/month in s+s isa today - seeing posts from people with 12 years savings and 2 additional properties (i exaggerate and aim this at noone in particular), but not content is both motivating and no offence intended but amusing as well - there is a balance and if you can't feel content in that position you probably never will be. Money is important but not everything

missyrichards

Probably one year, but we would have to alter our lifestyle slightly.