How long can you last on your own?

Discuss those "what if" or "what would you do" scenarios you've been wondering about.

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Close_enough
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How long can you last on your own?

Post by Close_enough » Fri Dec 22, 2017 12:20 am

Another SHTF scenario, but one that most people will face at least once in their lives.
You're out of work
You didn't qualify for any government assistance
What do you do and how long do you think you'll last before you start selling off retirement account, house, hobbies, etc. to make ends meet.

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Re: How long can you last on your own?

Post by w3rdtoyamama » Fri Dec 22, 2017 7:16 am

I have planned for that.

1. Get a full sized van and live in it.
2. Divorce wife and find a sugar momma.
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Re: How long can you last on your own?

Post by woodsghost » Fri Dec 22, 2017 7:29 am

If I lost my job today we could probably last 6 months. But it would be a TIGHT 6 months. Selling off my hobbies would probably buy another 2 months.

If I got unemployment we could probably do 12 months or more. We are used to living on a very small budget. But if working off savings alone, probably 6 months. If I got a job or two working local "minimum," we could carry on for several years. Nobody around here works for less than $10. Unemployment is too low and competition too stiff.
Last edited by woodsghost on Fri Dec 22, 2017 7:47 am, edited 1 time in total.
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Re: How long can you last on your own?

Post by fatty21 » Fri Dec 22, 2017 7:37 am

I was thinking about this 2 weeks ago and realized its my new focus for 2018.

If i cashed in my 401k from last job, id be set for 1 year solid with a family of 4. And both cars paid off. I would maybe have 1 hobby id have to sell off.

Hopefully by the start of 2019, ill be able to say the same w/o having to touch the 401k.

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Re: How long can you last on your own?

Post by flybynight » Fri Dec 22, 2017 12:04 pm

I plan on becoming the dread pirate flybynight :awesome:
As of now I bet you got me wrong

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Re: How long can you last on your own?

Post by RickOShea » Fri Dec 22, 2017 12:42 pm

I will be a high priest in the Cult of Zantra.....living in a hole in the ground can't be all bad. :crazy:
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Re: How long can you last on your own?

Post by JT42 » Fri Dec 22, 2017 1:13 pm

I have a page in my financial spreadsheet for this specific scenario. It currently shows a little over eight years without touching retirement, hobbies, house, etc. This would, however, pull from funds that are currently set aside for other projects & future purchases (car replacement, for example)

A few things my spreadsheet doesn't take into account are the other changes that would happen: I'd be driving a lot less so I'd be spending less on fuel, but (and this is a big one) I'd have to provide my own health & dental insurance, or go without. I haven't priced that but I know it wouldn't be cheap.

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Re: How long can you last on your own?

Post by Zimmy » Sat Dec 23, 2017 6:35 pm

I’d make it a couple of months if I sat on my butt. Let’s hope I’m not somehow unfit for work.

I could crank up production of various snake oils and aguardiente, sell gator hides and meat, dowse up some water lines and wells for folks, sight in and repair guns, hustle some hog processing classes, maybe fix the odd HVAC or home remodel project. With all that I could live off my preps and hunting/fishing/gardening for long enough to get used to it again. That should secure me above the depression level of living until I find solid work. (Although that sounds kinda fun)

If I have to I can sell scuba gear and parachutes and scroll saws and boxing bags and motorcycle crap and so on for quite a while that I don’t care a bit about because my hobbies changed.

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Re: How long can you last on your own?

Post by TacAir » Sat Dec 23, 2017 8:59 pm

Close_enough wrote:Another SHTF scenario, but one that most people will face at least once in their lives.
You're out of work
You didn't qualify for any government assistance
What do you do and how long do you think you'll last before you start selling off retirement account, house, hobbies, etc. to make ends meet.
I went 3 years w/o work. I did write and start selling novels on line. Ate some of my LTS chow. Put in more of a garden.

Since we own everything outright - rent (property taxes) and utilities were the big expenses. That alone makes a huge difference.
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Re: How long can you last on your own?

Post by majorhavoc » Sat Dec 23, 2017 10:37 pm

flybynight wrote:I plan on becoming the dread pirate flybynight :awesome:
Inconceivable!

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Re: How long can you last on your own?

Post by dallas » Sun Dec 24, 2017 10:04 am

Close_enough wrote:Another SHTF scenario, but one that most people will face at least once in their lives.
You're out of work
You didn't qualify for any government assistance
What do you do and how long do you think you'll last before you start selling off retirement account, house, hobbies, etc. to make ends meet.
I can always get work in my field. If I can not, that means I am disabled, so my disability insurance kicks in.

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Re: How long can you last on your own?

Post by Asymetryczna » Tue Dec 26, 2017 6:51 pm

One of the best SHTF scenarios I've seen. Even the real good plan needs to be constantly reevaluated.
It's not what you look at that matters, it's what you see.
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Re: How long can you last on your own?

Post by flybynight » Tue Dec 26, 2017 9:24 pm

majorhavoc wrote:
flybynight wrote:I plan on becoming the dread pirate flybynight :awesome:
Inconceivable!
You keep using that word. I don't think it means what you think it does :rofl:

P.S. I also, am not left handed :clownshoes:
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Re: How long can you last on your own?

Post by Close_enough » Fri Dec 29, 2017 2:03 am

It's been 6 months, and I figure I can last another 3. Both cars are paid off, and I did qualify for Medicaid. If I had to pay for medical I would be almost broke by now.

Things I would have done differently.
Find a McJob right off the bat. Ridesharing pays almost as well as welfare. I'm to old to shovel shit, but I can drive and type.
Update my skills immediately. When in doubt educate.
Cancel cable. That's about the only luxury we had left.

Edit:My new job starts in January

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Re: How long can you last on your own?

Post by woodsghost » Fri Dec 29, 2017 10:20 am

Close_enough wrote:It's been 6 months, and I figure I can last another 3. Both cars are paid off, and I did qualify for Medicaid. If I had to pay for medical I would be almost broke by now.

Things I would have done differently.
Find a McJob right off the bat. Ridesharing pays almost as well as welfare. I'm to old to shovel shit, but I can drive and type.
Update my skills immediately. When in doubt educate.
Cancel cable. That's about the only luxury we had left.

Edit:My new job starts in January
Awesome. Good to know. And my wife and I decided to cancel the internet. We just have our phones now, and they are $35 each a month. While I have a job, we have been sliming down expenses just to pay baby bills faster.
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Re: How long can you last on your own?

Post by Sun Yeti » Sat Dec 30, 2017 11:29 am

I generally have a lot of different gigs going, and often some entrepreneurial project/small business as well. However, my main gig was teaching at a makerspace, which went out of business with about 2 hours notice and is filing for bankruptcy while still owing me a good chunk of back pay.

So, I've been here before. When I quit my day job to work on a small business full time, after about a year and a half I had dropped to within maybe four or five months of being pretty much broke before things started to pick up again. I was thinking I might have to go back and do some terrible cubicle work for mediocre pay or even get some really bad McJob. I do have an advanced degree and a professional license though, so it probably wouldn't come to a McJob.

Anyway, I'm back in the same boat of watching my cushion melt away/watching the runway get shorter. Fortunately, I'm pretty paranoid and moderately frugal, so my present runway is something like a year. With the gigs I have lined up for Q1 of 2018, that should extend it a bit. It's not enough to live on, but will help stretch the savings. I've been hustling pretty hard to find something more substantial, and I have a few promising leads but we'll see.

If it really came to it, and I ransacked my retirement accounts/sold all my assets, I could go many, many years without work. Also, my wife and I keep separate finances (and thus we have complete independence in our spending which works very well for us), but she has a good job and if I became disabled or something she could support our present lifestyle indefinitely.

A big thing that helps is that we live well- for college students. When we graduated and got jobs, we only upgraded our lifestyle a little bit. One bedroom apartment, one car for the both of us (mostly for her), we go out to eat at a sit-down place maybe once or twice a month. If you can upgrade your lifestyle at a much slower pace than your income grows, that does help a lot. So I'm not freaking out about my present career situation, but it does still suck.
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Re: How long can you last on your own?

Post by Shotzee » Sun Jan 14, 2018 11:07 pm

I own a company in which I can work for myself and be just fine (If I ever lose my day job).

Not too worried.
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Re: How long can you last on your own?

Post by MPMalloy » Mon Jan 15, 2018 12:01 pm

One month at most without selling anything.

Things are not good.

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Re: How long can you last on your own?

Post by norcalprep » Mon Jan 15, 2018 3:02 pm

It's been a few months since my company cut over a third of the workforce. I'm still good for about 2 more years with the savings I accumulated. Before that runs out I'll probably start selling stuff like house, cars, etc. I'll be fine. I've been homeless before and survived that period in my life. This won't kill me.

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Re: How long can you last on your own?

Post by Stercutus » Mon Jan 15, 2018 3:37 pm

I'm already retired and planned to live without working if need be so at my current standard of living... until I die. There may be fewer luxuries and some major unforeseen loss could cause problems but other than that we are good.

I do work because I enjoy helping my community and try to make the world a better and safer place to live in. Relatively, they don't pay much but it isn't about the money.
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Re: How long can you last on your own?

Post by madoka » Tue Jan 16, 2018 3:13 am

One year on cash reserves.

Another year or two if I sell off spare sports cars.

15-20 years if I start selling stuff accumulated from hobbies.

By then, I suppose I'd be ready to live out of one house instead of three.

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Re: How long can you last on your own?

Post by RoneKiln » Sun Feb 11, 2018 12:32 am

Without touching retirement, one year if my roof holds up. If I get a minimum wage job with full time hours, indefinitely if the roof holds up.

I'd have already replaced the roof but I'm hoping to tear the place down and build something new in the next two years.

Actually, I already have the bulk of materials to finish the tiny house. Just haven't invested the time yet. If the roof gave out on the cottage I'd probably just move into the tiny house and tear the cottage down myself. I have tools and skills to do a lot of remodel work and my area is desperately short of people willing to do construction. I think I'd get by om even without a regular minimum wage job.

Now if I had kids... That would be far more stressful.
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Re: How long can you last on your own?

Post by Halfapint » Mon Feb 12, 2018 11:51 am

Close_enough wrote:Another SHTF scenario, but one that most people will face at least once in their lives.
You're out of work
You didn't qualify for any government assistance
What do you do and how long do you think you'll last before you start selling off retirement account, house, hobbies, etc. to make ends meet.
Been thinking about this one for a while. Right now I'm good for about 9 months without touching anything. However, if I'm out of work I think the first thing I do is organize everything I own and get to work on building the tiny house I've been designing and making up excuses not to build. My SO has a great job paying a little less than me however it goes up very fast so assuming its just me out of work we can still live our normal life just maybe not go out to eat (I like cooking anyways). The house would probably take me about 4 months with some help, 6 months alone. Cost would be the biggest issue at about 22k however I could barrow against my retirement. Once the house is done it'll be parked on the property and we'll move into it. Now other than property taxes and utilities (power) we'd be able to live nearly indefinitely. Then the remodel of the main house would begin.
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Re: How long can you last on your own?

Post by ManInBlack316 » Mon Feb 12, 2018 7:05 pm

Two months probably right now, and it'd be tight.
That's one of my goals for this year, improving that number to something way more comforting.

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