Fishingmn
Full time employment: Posting here.
I too have an expected budget, an adjusted budget if we need to cut back and an emergency budget if *it hits the fan.
The adjusted budget takes out about 20% with primary adjustments to travel, entertainment & gifts/charity. The emergency budget says sell our primary residence and cut back to something a lot less expensive.
A lot of the decision would be what's happening in the real estate market as my 11 rental properties will be bringing in a lot of what we need to retire on. If rents or housing prices drop significantly (50%+) that could put us into the emergency category.
The adjusted budget takes out about 20% with primary adjustments to travel, entertainment & gifts/charity. The emergency budget says sell our primary residence and cut back to something a lot less expensive.
A lot of the decision would be what's happening in the real estate market as my 11 rental properties will be bringing in a lot of what we need to retire on. If rents or housing prices drop significantly (50%+) that could put us into the emergency category.