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This is where I point out the obvious: save enough of your huge paychecks to last you a few months in the event of a downturn. I keep about 6 months expenses in
by ASinclair 10y ago
This is where I point out the obvious: save enough of your huge paychecks to last you a few months in the event of a downturn. I keep about 6 months expenses in my savings account but it's up to your individual risk tolerance.
- ryanSrich 10y ago6 months of expenses in SV is like $24k just in rent. That's going to hit people pretty hard whether they've saved for it or not.
- ASinclair 10y ago$4k/mo is higher than average unless you're talking about supporting a family as well. If you're supporting a family your risk tolerance should be lower meaning you'll want more saved. Though it should hit people equally regardless of rent. The only difference is that people with lower rents can afford to take lower paying jobs in the event of a downturn. $4k/mo is significantly more than my total monthly expenses. This leads to the other obvious advice: live below your means.