3 ms·
> Specifically, I'd recommend living on a small portion of your income and saving a multiple of your living expenses. General life advice? This implies everybo
by maximus-decimus 4y ago
> Specifically, I'd recommend living on a small portion of your income and saving a multiple of your living expenses.
General life advice? This implies everybody should save at least 66.6% of their post-tax salary.
- notch656a 4y agoChild support for a single child alone, which is what society thinks a single child needs to live, is about 30% of salary post tax. So you'd be spending 2-3% of your salary on yourself if you had even a single child. Sounds pretty rough.
- maximus-decimus 4y agoIt's pretty weird that "what a child needs to live" is determined as a function of the parent's income. As if kids of rich people needed more money can kids of poor people to survive.
- aksss 4y agoThe idea is to have, e.g. three to six months of living expenses held in reserve cash. Once you’ve built the emergency fund, spend all you want. Ladder your emergency fund into I-bonds or something if worried about it eroding from inflation. It’s very solid general life advice. Prepare.
- borski 4y agoWell, and save for retirement.
- deleted 4y ago[deleted]