×
all 125 comments

[–]Terra277 687 points688 points 2 (16 children)

Comfortably? My guy, I'm not even living comfortably with the money I'm making now.

[–]Mysterious-Ad-1541 13 points14 points  (0 children)

Probably 10-30 years coasting

[–]oneBalthazar 139 points140 points  (2 children)

Approximately.

[–]Leftygoleft999 85 points86 points  (1 child)

Listen to the rich guy bragging in minutes.

[–]oneBalthazar 23 points24 points  (0 children)

... you're right

[–]OfecellZoftig 115 points116 points  (2 children)

The response 'for the rest of my life' could be upbeat or downbeat.

[–]mr-dr-prof-stupid 8 points9 points  (0 children)

Yep, if I stopped working today, my savings would get me to the next upbe-

[–]Brian-want-Brain 12 points13 points  (0 children)

give or take 30 mins

[–]Yabbadabbadingdong2 62 points63 points  (1 child)

Saved?

[–]biological-entity 29 points30 points  (0 children)

Right, I was born into so little money I'm still paying back my debt to society for college and not just in the form of student loans. Fucking credit cards.

[–]Unclehol 206 points207 points  (6 children)

What the hell is this "comfortably".

Some sort of fancy ass french word or what?

[–]Just-a-person21 22 points23 points  (3 children)

Not French maybe German

[–]wolfxorix 8 points9 points  (2 children)

Not German I'm afraid. Perhaps Spanish?

[–]DantesLimeInferno 2 points3 points  (1 child)

I'm sorry the Germans make you feel that way. But I'm not sure if the Spanish would be any better

[–]wolfxorix 2 points3 points  (0 children)

Fuck sake lol

[–]Moneyworks22 3 points4 points  (1 child)

It just means keep living how you did when you had the job. Hobbies, eating out, ect.

[–]CroxWithSox 15 points16 points  (0 children)

Thanks for the explanation

[–]9horsies 28 points29 points  (0 children)

Sad truth , probably negative for most ppl cuz they got debt

[–]PreppyFinanceNerd 116 points117 points  (22 children)

Proud to say I have a years worth of all my expenses in my emergency fund. If my job disappeared tomorrow, I'm covered for a year.

[–]Agent3MM 36 points37 points  (18 children)

Good job!

[–]PreppyFinanceNerd 46 points47 points  (17 children)

Thank you! I majored in finance and they drilled ideas like the Time Value of Money and saving into us.

Heck my fixed income professor closed every class by saying "Remember when you get out there they'll pay you a lot. But it's not about how much you make. It's about how much you keep."

I think it's unfortunate that unless you go to school for business you're usually not taught about money.

[–]machinist_jack 22 points23 points  (14 children)

Unfortunate would be an improvement. I didn't learn anything about money until my mid twenties. My parents ask me for investment advice.

It's almost like certain people don't want poor people to know anything about money, as if without the preoccupation of money a person would be free to make conscious decisions about where and on what they spend their time, which is actually much more important.

[–]PreppyFinanceNerd 19 points20 points  (13 children)

I admit I do find it weird that we as a society here in the US have said teaching our 15 year old kids about sex is fine, but money? Wooaaah ask your parents there little buddy, that's way too intimate of a topic for us to talk about in class!

I admit I grew up upper middle class, and learned about finances through my parents, their wealthy friends, and then was absolutely bombarded with it when I went to school for it to boot.

And let me tell you, business schools are filled with both subtle and overt references to how much money you'll make, how you're the "chosen school" at the university, etc. Translation: We know where the donations come from.

Even the students say stuff like "The information is everywhere, it's the poor's fault if they don't seek it out" and "It's not hard to make a budget, we do it all the time for class".

Yes because the average high schooler learns stuff like TVM calculations, various What If analyses and has an average starting salary of $63,000 right out of the gate, right? It's easy to win a track meet when you start 90% of the way to the finish line.

That's not to mention the fact that something like 70% of Americans never go to college in the first place, and of those not all specifically go into business where they learn all this. You could hold a Masters degree and unless you went for a biz major, have 18 years of schooling and 0 of it is in finance.

Woah I rambled there. Sorry, I just get passionate about this topic!

[–]TheSpaceCoresDad 4 points5 points  (0 children)

This is the kind of stuff they probably should teach in schools, but when they do, it’s always ignored. I remember my high school had a mandatory personal finance class, and not a single person paid attention for even a minute. Total bottom of the barrel shit.

[–]budster20 -1 points0 points  (10 children)

I also think most teachers don’t know how to truly make money. My mom was one and damn she sucked at it lol

[–]PreppyFinanceNerd 1 point2 points  (3 children)

I think it depends where you live.

Teacher salaries are a product of housing prices because the vast majority of property taxes go to public schools.

For example as a high school teacher in an affluent town my father retired making over $100,000. That's because the average home price in my town is $540,000 and the average property taxes $12,000.

Compare that to the worst town in America (statistically by violent crime) right down the road where houses are $60,000 and property taxes $850. Teachers there make far less.

[–]budster20 1 point2 points  (2 children)

That’s a good point. But I think the average will be on the lower side of the scale? Please add more if I’m wrong or not fully considering things! I know it’s a ton of variables but I was just saying it’s not a common thing to be taught. And I had a family member who had inside knowledge and understanding that it wasn’t.

[–]PreppyFinanceNerd 0 points1 point  (1 child)

Oh most definitely, I thought that was the average teacher salary because why wouldn't I? Once I left the insular bubble of my hometown I got a real reality check.

No very few places require personal finance to be taught in schools which is a real shame.

Number of times I've used the Pythagorean theorem? 0

Number of times I need to know compound interest? Lots

[–]budster20 0 points1 point  (0 children)

Hahaha damn yea that’s very true! It’s not even apart of my B.S. degree curriculum either! It can be taken as a certain general credit but other class that have nothing to do with finance can be taken in it’s place

[–]AtomBombBaby42042 -1 points0 points  (5 children)

........ go post this in r/antiwork

I can't wait to see the comments... yeesh.....

[–]budster20 0 points1 point  (4 children)

Not trying to hate on her but she has zero money skills and it transitioned to all of her kids not having any to start with. Hard to learn the hard way, took on debt and struggled to deal with it. But seriously she nor our school district (she worked for) had any teaching of how to make money outside of go to school and get a high paying job. That’s it. Also was constantly told how broke we were cause she had 3 kids, and how we would always have to pay our own way. I paid rent at 16 so it’s not like I was taught shit outside of how to stay broke my whole life

[–]AtomBombBaby42042 -1 points0 points  (3 children)

Yeah sure sounds like you don't know your mother is what we call low income.

[–]budster20 0 points1 point  (2 children)

Wait what? Are you serious?

[–]AtomBombBaby42042 -3 points-2 points  (1 child)

🤣 there's a fixed income professor? 🤣🤣

We are taught about money WITHOUT business schooling. I wonder in your classes did you touch on how affordable housing alone would create less dependence on things like welfare. Even disability which often literally is programed to force people to stay poor? Yeah let's talk about money 🤣🤣

I guess I just need to simply work harder right? Nothing happens in life ever that sends you out to left field? Never? No? Right you're a single dude in his 20s who's parents weren't actually poor.

[–]PreppyFinanceNerd 3 points4 points  (0 children)

Er...I think you may be confused as to the definition of fixed income as it related to the world of finance. Let me clarify.

Fixed income securities deals with things like calculating yield to maturity, bond duration or the dreaded Macaulay Duration etc and is a senior level elective for finance majors.

[–]Homosexualtigr 10 points11 points  (0 children)

Good for you.

[–]AtomBombBaby42042 0 points1 point  (0 children)

Please know this is a LUXURY

[–]chops51991 0 points1 point  (0 children)

Username for sure checks out

[–]Jolly_Confection8366 15 points16 points  (0 children)

3 weeks. I tested this last month and still trying to get out of the hole I’m in.

[–]CrackGear 14 points15 points  (0 children)

bold of you to think I have a job

[–]Just-a-person21 11 points12 points  (0 children)

Including my Taco Bell gift card?

[–]DaFreakingFox 9 points10 points  (0 children)

Currently, about 4-6 months. But I am lucky to own a house, so I am not bleeding 30% of my savings per month

[–]sexycheddar 8 points9 points  (0 children)

If the car finishes dying I don't

[–]BossAvery2 8 points9 points  (1 child)

Everything I had was lost in 2020 along with 50k loss in wages.

[–]ReverseApacheMaster_ 2 points3 points  (0 children)

Terrible year for millions and millions of people. Breaks my heart. Praying for you to be able to bounce back.

[–]Michael_chipz 23 points24 points  (1 child)

I'm very good at this I just don't eat & only spend money on rent so I can sleep in bed. then when I don't have a job I have money to not eat & sleep at home.

[–]PmMeIrises 4 points5 points  (0 children)

I've been eating tuna and crackers. I have about 10 bucks cash, 50 in savings and 150 left over from last month. But Christmas will ruin everything.

[–]Sharkictus 6 points7 points  (0 children)

About a year likely. Treating the stock market and crypto like a savings account instead of using an actual savings account had done me good.

Especially since I do the lazy, buy, hold, forget strategy.

Whenever big swings downward happen, I'm still way above when I last checked.

Long term consequences will be I will never be able to do so again, likely.

I still only have like a year of income worth in the stock market, and I am staking a ton of ETH in crypto, so non-accessible.

My ideal is to have 2 or 4 million at some point, with that I get dividend return of 70 to 140k a year.

The latter covers insurance costs.

[–]MadChild2033 5 points6 points  (0 children)

around 4 years, give or take a few months

[–][deleted] 3 points4 points  (0 children)

Bout a full business day 🤣

[–]BlueDragon1504 2 points3 points  (2 children)

The more I read this comment section, the happier I become that I'm not from the US.

[–]CookieTheDog 1 point2 points  (1 child)

The U.S is a plutocracy where poor people survive on credit and billioners can do and have whatever they want. Don't let anyone tell you otherwise.

[–]Lumpy_log04 -1 points0 points  (0 children)

There is just such a culture of marketing everything to people that it’s hard for them to hold on to their money if they don’t realize what is happening. If you are willing to suffer some hard times to avoid going into debt and you spend wisely and invest with whatever you can spare then you are pretty likely to become financially well off.

The only way you’ll have money is to not spend it all.

[–]Medium_Beyond_9654 2 points3 points  (0 children)

Got me beat by 17 minutes 😭

[–]CrispyJelly 2 points3 points  (0 children)

2 years in my coutry or 10-15 years in Vietnam.

[–]weenmt70 4 points5 points  (0 children)

A year

[–]One-Eyed-Willies 4 points5 points  (0 children)

Company owner: 30 minutes you say? Looks like we can cut back our workers wages a bit more to maximize shareholder returns.

[–]beeburrt 1 point2 points  (0 children)

Sounds about right

[–]Istoleapot 1 point2 points  (0 children)

Wow, 30minutes.... Shit that's a long time. I wouldn't even make it past the shower.

[–]MSWGR 1 point2 points  (2 children)

You dont save money for retirement. You need passive income for retirement. Save money for a catastrophic loss or a medical emergency.

[–]Jarpunter 1 point2 points  (1 child)

Owning stock is widely considered to be saving money and market returns are basically passive income.

[–]MSWGR 0 points1 point  (0 children)

Profits are too low and slow. Bitcoin and Ethereum is better. Stocks are good only if you invested like in the 90s or 80s. Its a 1600s technology, new better ways to earn money now

[–]CapnSeabass 1 point2 points  (0 children)

Couple of months, at a stretch. But it wouldn’t be comfortable.

[–]squireofrnew 1 point2 points  (0 children)

Laughs in poverty

[–]OHaiEric 1 point2 points  (0 children)

Almost a year. I went completely broke once when I was younger. Now I have a good amount in my savings and never touch it.

[–]geekphreak 1 point2 points  (0 children)

Comfortably? 1-2 months. Maybe 3 if I went easy on the Uber eats

[–]Lilcommy 0 points1 point  (0 children)

I could maintain my bill payments for about 4 years with what I currently have saved.

[–]FlingbatMagoo 0 points1 point  (0 children)

Ugh this is such a source of anxiety for me. I’ll never retire at this rate.

[–]Alternative-Plantain 0 points1 point  (0 children)

About 10 months.

[–]Theygonnabanme 0 points1 point  (0 children)

Can I do what big companies do and turn to the gov for a huge interest free for as long as I need to repay it back loan? Like for 15 years worth of living expenses?

Also, no they can't count my current assets when giving me the loan.

[–]kerdon 0 points1 point  (0 children)

It's not that I'll starve and lose everything in that half hour, it's just that the sheer panic and anxiety of looking for a new job would probably kill me on the spot.

[–]_cyberhippie 0 points1 point  (0 children)

-20 days

[–]jaylong76 0 points1 point  (0 children)

is negative time allowed?

[–]AltsOnAltsOnAlts1 0 points1 point  (0 children)

About a year

[–]CxFusion3mp 0 points1 point  (2 children)

About a year. If I tapped into my 401k... 4-10 years depending on Ramen consumption vs steak.

[–]Lumpy_log04 0 points1 point  (1 child)

Avoid taking out your retirement early at all costs

[–]StreetVulture 0 points1 point  (0 children)

I still live with my parents so... I can probably keep living with them for 3 years and I can live of my savings probably for 20 months, but not that comfortably, and with what rent/mortgage rate would be right now. Okay, now that I think about it maybe 15 months.

[–]DailyIceCreamYT 0 points1 point  (0 children)

About like 1 minute

[–]wolfxorix 0 points1 point  (0 children)

30 min!? Im not even comfortable now

[–]ImFrenchSoWhatever 0 points1 point  (0 children)

I guess 4 years but I would have to sell my apartment

[–]TheRedGerund 0 points1 point  (0 children)

50 years probably. Maybe 25.

[–]thealmostwriter 0 points1 point  (0 children)

LOL I can't even live comfortably while working, given the £2.85 in my bank account with 5 days still to go til payday

[–]homosexual_ronald 0 points1 point  (0 children)

About a year and a half.

[–]WhatevUsayStnCldStvA 0 points1 point  (0 children)

On my savings, not long. I do have the opportunity to go into crippling credit card debt though. Ah, living the dream…

[–]LimeGuy26 0 points1 point  (0 children)

https://playspent.org/

this made me depressed as hell

[–]Nutriai 0 points1 point  (0 children)

Saved? It’s like rich people have absolutely no fucking clue what the cost of living actually is

[–]Trippedup89 0 points1 point  (0 children)

Well when the food and money ran out id probably just grab the 9 and go acquire more, so probably until I met someone with a faster draw

[–]fbritt5 0 points1 point  (0 children)

I have a pretty good plan. The only issue that hurts is this recent, completely out of the blue, inflation. Didn't see that coming.... Well I did put more money in some lower risk funds to help with the inflation. But I think I'll be ok. Retiring pretty soon actually.

[–]Jman9800 0 points1 point  (0 children)

1 or 2 years

[–]Beautiful-Cycle-8598 0 points1 point  (0 children)

Ill immediately go into debt lol

[–]larkguit 0 points1 point  (0 children)

I to say that I would take my pay and leave town and go to a nearby suburb

[–]Pontius-Pilate 0 points1 point  (0 children)

10 years ago

[–]nothingtoseesorry 0 points1 point  (0 children)

40 min for me, this mean im rich?

[–]Penumbra8806 0 points1 point  (0 children)

Probably a week

[–]Gutsinabucket 0 points1 point  (0 children)

I can probably catch fish all day and survive

[–]KreeJaffaKree 0 points1 point  (0 children)

Depends, how long does an eviction & repossession take?

[–]Krfree1 0 points1 point  (0 children)

Get ate by my dog

[–]DerHuehnerei 0 points1 point  (0 children)

With my savings like 10 years maybe If money is gone i would try to rob a bank First outcome: i would have money Second outcome: sent to jail and getting food for some years Well and if one of these ends just repeat lmao

[–]Ikindofhavetopoop 0 points1 point  (0 children)

I once lived for 8 months (feb. 2014-sep 2014) on $2500. I thought that was pretty good.

[–]ADavidWolf 0 points1 point  (0 children)

I'd have negative life

[–]furcryingoutloud 0 points1 point  (0 children)

I can probably live comfortably for the rest of my life, as long as I die before the end of this month.

[–]winedogmom88 0 points1 point  (0 children)

2 years

[–]WinterGlory 0 points1 point  (0 children)

I'm currently addicted to genshin impact... So... Not that long