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#1 |
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Thinks s/he gets paid by the post
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Posts: 1,743
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Worst case scenario.
For those of us still working but contemplating Early Retirement in the near future. What is your worst case scenario?
That is, for whatever reason, you decide (or being forced to) quit today, at this very moment, would you make it? Or do you have to look for another job soon? Here's my worst case scenario: Imitate "Billy and Akaisha" lifestyle. Absolutely no need to look for work ever again. What's yours? |
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#2 | |
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Give me a museum and I'll fill it. (Picasso)
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Location: Seattle
Posts: 8,474
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Re: Worst case scenario.
Quote:
Ha
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"Show 'em just enough to win the turkey."- Former KY Governor Bert Combs |
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#3 | |
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Thinks s/he gets paid by the post
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Re: Worst case scenario.
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No it was not meant to offend. It was meant as a compliment, an admiration. Because of them, there exists an escape route for me, should the worst happen. |
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#4 |
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Re: Worst case scenario.
I'd be looking for a new job or maybe a new career (being a lawyer is my backup plan if the current career loses its feasibility).
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#5 |
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Give me a museum and I'll fill it. (Picasso)
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Re: Worst case scenario.
I went through the mental exercise recently. If I were suddenly out of a job, I would take a month off before even contemplaying my options. Then it would be find another job or start a business.
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“When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid |
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#6 | |
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Re: Worst case scenario.
Quote:
What is your "Best Case Scenario"?
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Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral |
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#7 |
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Re: Worst case scenario.
My best case scenario is to retire as planned 4 years from now. Will probably live the "Billy and Akaisha" lifestyle as well, but at a different level.
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#8 | |
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Re: Worst case scenario.
Quote:
In a worst case scenario (defined as losing current earned income), I could RE right now with what I have, but I would not want to live on a slightly higher than bare bones budget for the next 40+ years. Still, it's a good feeling to know you have enough set aside early in life so that for a few years, you could keep living the normal life you have been accustomed to living while you look for other sources of income (if you need to). The average guy on the street may have 6 months of living expenses saved while most FIRE-to-be people here may have more than 6 years of living expenses set aside.
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No man is free who is not master of himself. --- Epictetus Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo |
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#9 |
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Thinks s/he gets paid by the post
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Re: Worst case scenario.
On second thought, I'd take the 6-9 months of unemployment pay and call it a "sabbatical".
Assuming I got fired, and not that I quit. |
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#10 | ||
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Thinks s/he gets paid by the post
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Re: Worst case scenario.
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Quote:
You are not alone thinking that. In reality, most people don't stick around just for unemployment check collecting, unless they are forced too. The amount is so small compared to their normal income that the incentive to "not work" does not materialize. |
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#11 |
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Moderator Emeritus
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Location: Tampa
Posts: 5,877
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Re: Worst case scenario.
Well, as long as you're being morbid, suppose you opt against LTC insurance due to its chaotic state. Then one of you gets a chronic debilitating disease and ends up in a 70K per year nursing home. A year or two later, the other one -- now living on a small allowance, gets his or her own disease.
Or, you count on an ESRBob-style part time income stream, then become disabled, then face a severe and long bear market. But all these scenarios are not likely, and people tend to adjust, belt-tighten and improvise. Nothing protects agains all worst-cases. I think there is more risk in over-planning for the worst case 1% scenario than there is in having sensible cushion and living a good life.
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Rich Tampa, FL (10% retired) As if you didn't know..If the above message happens to contain medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any medical purpose whatsoever. Consult your own doctor for all medical advice. |
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#12 | |
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Moderator Emeritus
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Re: Worst case scenario.
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At least that's how it works for me. 10,000 or so posts later I'm sleeping a bit better now...
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* * For more info see "About Me" in my profile. |
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#13 |
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Moderator
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Re: Worst case scenario.
My worse case is that I get killed by a falling jet engine and our cats inherit. Anything else is gravy.
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Angels danced on the day that you were born. |
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#14 | |
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Thinks s/he gets paid by the post
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Re: Worst case scenario.
Quote:
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No man is free who is not master of himself. --- Epictetus Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo |
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#15 | |
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Thinks s/he gets paid by the post
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Re: Worst case scenario.
Quote:
![]() That's a worst case scenario? Boy, lots of sheltered lives on this board I guess!! Losing a job is a worst case scenario? I thought that happened to everyone. And if that was the worst that ever happened to me, I'd consider myself one hell of a lucky guy!It's more fun to discuss scenarios such as: you reach FIRE at 45 and hear your doc tell you that you have terminal cancer at 45.1. Or you pick up the phone and hear the police tell you that your child was killed in an auto accident. Or your spouse dies unexpectedly. You get the idea. Dealing with the loss of a job or the failure of a business requires knuckling down and replacing it. But, compared to real problems in life, shouldn't even be given a moment's thought. Fellow posters, please don't be offended by this, but we really do lead charmed lives and most have few clues as to what "worst case scenarios" are all about.
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Over all was the silence of the wilderness - Sigurd Olsen |
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#16 | |
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Full time employment: Posting here.
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Re: Worst case scenario.
Who gets the money when the cats die?
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Awaken Your Spirit at Spiritual-Short-Stories.com! |
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#17 | |
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Moderator
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Re: Worst case scenario.
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Angels danced on the day that you were born. |
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#18 | |
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ... ![]() ![]() ![]() ![]() ![]() ![]() ![]() Join Date: Mar 2003
Posts: 9,248
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Re: Worst case scenario.
Quote:
__________________
“When you realize that you are one of the rare few who observe moral principles in their relationships with others, there is a temptation to sink into amorality, not out of conviction or pleasure but simply to avoid further pain, because there is no greater suffering than being an angel in hell, whereas a devil feels at home wherever he goes.” – Martin Page, How I Became Stupid |
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#19 |
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Thinks s/he gets paid by the post
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Re: Worst case scenario.
as i've mentioned on an earlier post, life is pretty good when your so-called worst case scenerio simply forces you into a life of adventure.
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"off with their heads"~~dr. joseph-ignace guillotin "life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901 |
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