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by phyzome
3010 days ago
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> Almost no one has enough savings to last two years. This doesn't seem correct to me, but people don't like to talk about their personal financial situation (any of income, expenses, and savings) sooo... I guess hard to say. I'd definitely be able to live for 2 years on my savings, but I'm pretty frugal and am privileged to not have student loans. I recognize this is not everybody's situation, but I don't think it's helpful to constructive to frame it as "bragging" or "humble" or any such words. People have different situations and I think it should be OK to talk about that. That said, it's probably overly conservative to say 2 years as a minimum. I'd use the standard 6 months figure for that. 2 years is a good idea if you can swing it, obviously... |
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Most people are going to need much more than $10,000 to live for two years so I think it's pretty safe to say that almost no one has enough savings to last two years.
57% percent of Americans, according to my source, have less than $1000 in savings which isn't enough to last a month for many of them.
https://www.cnbc.com/2017/09/13/how-much-americans-at-have-i...