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> This logic breaks down when you get an unexpected medical bill, or the car you rely to get to your job breaks down and you get fired, etc. How? I have exper
by donw 6y ago
> This logic breaks down when you get an unexpected medical bill, or the car you rely to get to your job breaks down and you get fired, etc.
How?
I have experienced all of those things -- except replace "getting fired" with "my business failed".
My "oh shit" fund -- six months' worth of expenses -- got me through every one of those personal disasters. It gave me peace of mind, and the financial space to take care of myself, recover, and get back on the horse.
It was empowering.
Anybody can do this, if they want. It isn't easy, mind you.
It takes a big shift in mindset, time, and in my case, paying the price for a lot of poor decisions.
You aren't going to live in a trending part of town, or hit the bar every week. You'll cook at home a lot, probably live in a shared house, might even share a car or ride a bike to work. I've done all of those things.
And it is harder than it used to be.
Boomers don't get that.
Wages are lower.
Medical costs are insane -- and neither the establishment Republicans or Democrats have done anything to fix that, mind you.
Society encourages people to make horrible decisions, like borrowing insane amounts of money to buy the "college experience" and earn a worthless degree.
And the more of those traps you have fallen into, the harder climbing out of the hole will be.
Myself, I had to pay off a bunch of stupid debt.
But once you start to live below your means, and you experience that freedom, you never want to go back to the spend-everything-you-make lifestyle.
- slavapestov 6y ago> I have experienced all of those things -- except replace "getting fired" with "my business failed". If you’re in a position where you can easily start a (nonetheless failing) frivolous social app startup you’re already much more comfortable than most of the country. > And it is harder than it used to be. That’s the point. Certain individuals can still succeed today, but the fact that it is harder now than it was in the past is a point of concern.
- donw 6y ago> If you’re in a position where you can easily start a (nonetheless failing) frivolous social app startup you’re already much more comfortable than most of the country. I did work, hourly, for money.