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> Calculate how much time you can afford to be unemployed, and how to extend that time if necessary. I’d be interested in thoughts from others for whom this t
by addaon 4y ago
> Calculate how much time you can afford to be unemployed, and how to extend that time if necessary.
I’d be interested in thoughts from others for whom this time comes out to decades, but less than actuarial time remaining. What’s the thought process between doing another turn on the hamster wheel now, when skills are fresh, vs in a half-economic-cycle or so when the market’s hotter, vs trying to stretch and stay off the wheel for good?
- dougmwne 4y agoIf your savings can be measured in decades, then you should look into some of the math and simulations behind the FIRE community. While considering yourself financially independent may be more of an academic exercise, the most important thing you can gain is permission to chase your own fulfillment rather than numbers in a computer somewhere. Our society rewards risk takers and when money is no longer a top concern, you can afford a whole lot more risk tolerance.
- addaon 4y agoWhat's the advantage of taking risk in this scenario? It seems that the obvious goal is to minimize chance of running out of dollars before days, which sounds like risk reduction to me.
- mgkimsal 4y agoThe “risk” may just be not getting back in the treadmill. The risk of marketable skills and your network deteriorating is real. But with years or decades of savings, “taking a risk” may just be pursuing an idea. Doesn’t necessarily mean spend a big chunk of savings.