What is your networth vs. annual expense ratio? (paying, house, live)
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6.
But that's because I live in Manhattan, which is super expensive.
If I had to live off my savings (net worth), I'd move somewhere a LOT cheaper. Like Thailand or Costa Rica.
I think this is slightly skewed if you're including home equity in terms of your net worth. Realistically if you had to sell to liquidate you're equity, it would give you cash, but increase your expenses.
That said, I think I'm around 6 as well. That's the downside to a higher cost of living place. Additionally, if I had even the slightest hint that my employment was even remotely at risk, I can easily scale back on things a bit to get to 10. I just choose to eat out a bit.
I think this is slightly skewed if you're including home equity in terms of your net worth. Realistically if you had to sell to liquidate you're equity, it would give you cash, but increase your expenses.
That said, I think I'm around 6 as well. That's the downside to a higher cost of living place. Additionally, if I had even the slightest hint that my employment was even remotely at risk, I can easily scale back on things a bit to get to 10. I just choose to eat out a bit.
Either your net worth is very low or you eat out a ton lol
Either your net worth is very low or you eat out a ton lol
Actually it's my overall "Entertainment" category which also includes things like the fact that I've had a lot of weddings this year. Those things quickly get expensive. Just goes to prove that while interesting, this number is very easily skewed.
6.
But that's because I live in Manhattan, which is super expensive.
If I had to live off my savings (net worth), I'd move somewhere a LOT cheaper. Like Thailand or Costa Rica.
Yes, I'm approaching the point where I could do something similar, although it would still be tight.
im not sure what the value of this number is. id imagine the closer you are to retirement, the higher the number should be.
Generally, if you don't have a pension or Social Security coming in, the number should be ~25, not including your house.
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