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Old 11-16-2017, 03:36 PM
 
771 posts, read 835,900 times
Reputation: 824

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Quote:
Originally Posted by expatCA View Post
Yes, my minimum goal was always 3 years worth of savings that would cover all costs if neither my wife or I had a job, at a minimum, and now it is at 10 years as I am a LOT older. Learned the hard way over the years and it went from pay check to paycheck to having a nice savings account and then to the 3 year goal. Yes it took time.

Buying my home helped as man costs stayed fairly static VS renting.
I bet a lot of people will read your post and mistake the units (ie, see months not years).

Higher income jobs are usually harder to replace than lower income ones, so typically older folks need more cushion. Kids? More cushion. Single income household? More cushion.

Obviously the ultimate years' worth of cushion with no job is forever/ongoing. AKA retired comfortably.
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Old 11-16-2017, 04:07 PM
 
2,986 posts, read 4,577,410 times
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It's been almost 4 years since I went under contract...bought the smallest house in the best neighborhood I could afford and it's turned out to be a good decision so far. My PITI is less than rent for a comparable place now
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