4 ms·

I'm not quite 40, but am happier now than when I was younger. A key part of that is financial. After 20 years of working I have a nice nest egg saved up. It is

I'm not quite 40, but am happier now than when I was younger. A key part of that is financial. After 20 years of working I have a nice nest egg saved up. It is not enough enough that I can retire, but it is enough that I don't have to worry. When I was younger, I was always stressed about how I would pay the bills. When layoffs would go around I would be super stressed , worrying about what if it happens to me. I'd also be stuck dealing with some asshole boss because I needed the money again causing more stress. Right now there is a rumor going around that my company is not doing too well financially. In the past I would have been worried about it. Now my only thought is if I do get laid off, is where I do some traveling to. If it is during the summer, think I'll go spend some time in the Canadian Rockies. If during the winter, I'll go back to Australia.

tedmiston 7y ago
I'm in my late 20s and a nest egg is years away, but having a a basic emergency fund and financial safety net did wonders for my peace of mind. For those who haven't done it yet, I think it's the most important financial goal to hit as early in your career as you can. Long-term disability insurance and life insurance are nice to have too. Patio11 has been preaching this [1] but it took me a while to really get it. The technical detail of "own occupation" is really important here. [1]: https://twitter.com/patio11/status/988094196274769920 https://twitter.com/patio11/status/988094196274769920
- pickle-wizard 7y ago
  Yes long term disability is a must have. I usually get it through my employer. When I was laid off last year I did have the option to continue the disability insurance, but it was a bit more expensive that what I was paying as an employee. IIRC it went from $50/month to $100/month. What is nice is that my new employer picks up the tab 100%, but it is only 60%. Usually in the past I would pay a bit extra to get 75%, but that is not an option. I've never thought about private disability insurance before, but it is something that I should look into.

tedmiston 7y ago

I'm in my late 20s and a nest egg is years away, but having a a basic emergency fund and financial safety net did wonders for my peace of mind. For those who haven't done it yet, I think it's the most important financial goal to hit as early in your career as you can. Long-term disability insurance and life insurance are nice to have too. Patio11 has been preaching this [1] but it took me a while to really get it. The technical detail of "own occupation" is really important here. [1]: https://twitter.com/patio11/status/988094196274769920 https://twitter.com/patio11/status/988094196274769920

pickle-wizard 7y ago
Yes long term disability is a must have. I usually get it through my employer. When I was laid off last year I did have the option to continue the disability insurance, but it was a bit more expensive that what I was paying as an employee. IIRC it went from $50/month to $100/month. What is nice is that my new employer picks up the tab 100%, but it is only 60%. Usually in the past I would pay a bit extra to get 75%, but that is not an option. I've never thought about private disability insurance before, but it is something that I should look into.