Thanks, but I got triggered because I don’t like to associate <150k with regular job. I do agree with everything else you said. I’m not a leanFIRE guy or something else, but I just thought it’s better to not associate the words “regular job” with <150k. Mathematically correct, but it sounds still different.
Thanks for your reply @flenker. I’m very familiar with Jacob’s book. I would be interested in a breakdown of your expenses to see how this number would work in Switzerland.
my original plan was to have 100kCHF @ 4%SWR, hence 2.5M. But as time went by i fount to have a good life on much less. My current approach is to collect long-term data on my expenses to make a good decision later.
I like the way you think, but I’m not sure it will work this way. I haven’t read that book though.
5k apt.
3k health insurance
100 liability
250 communication
100 dentist
X transportation
X food
X fun
X gifts
X social (should be under fun )
Put numbers instead of X and you could have what you are going to spend the first year. What should be really scary is how much you are going to pay in 20 years. That 3k for health insurance might be 6k. I’m not sure the 4% rule will help with that.
One thing to take into account is that you can get health insurance subsidies. The rules might vary by Kanton, in my Kanton a percentage of your wealth is counted towards your income. So if you have 300k in wealth and the associated income you could still get subsidies, with 1M in wealth you’ll no longer get subsidies.
And if you subtract health insurance, 300k is easily doable.
I think this 300k thing is too hardcore.
500 bicycle
3’300 bad illness (2’500 franchise + that other maximum amount)
10’000 bad dentist bill
1’000 dishwasher / laundry machine / any large size household machine
2’000 stuff breaks on the apartment and the landlord “legally correctly” forwards the bill to you
6’000 health issue that your insurances manages to not have to reimburse
lawsuit (ok would probably wipe out most ppl who dont have lawyer insurance)
I dont’s think its not doable, but the margin to unexpected expenses gets really small.
however if you managed to track your precise expenses over 10 years and find to be consistently fine with such a small budget, then there is not so much to stop you.
here the philosophy in people’s minds may make a difference: i consider myself wealthy and would not want to sneakily recieve support that is intended for those who need it. Of course, i wont actively refuse it if offered.
By reading and partipating to this forum, you confirm you have read and agree with the disclaimer presented on http://www.mustachianpost.com/
En lisant et participant à ce forum, tu confirmes avoir lu et être d'accord avec l'avis de dégagement de responsabilité présenté sur http://www.mustachianpost.com/fr/
Durch das Lesen und die Teilnahme an diesem Forum bestätigst du, dass du den auf http://www.mustachianpost.com/de/ dargestellten Haftungsausschluss gelesen hast und damit einverstanden bist.