Poll: Could you quit your job and have 12 months backup?

Could you quit your job and have 12 months backup?

  • Yes

    Votes: 173 42.7%

  • No

    Votes: 191 47.2%

  • He's a bit of a nosey bugger isn't he?

    Votes: 41 10.1%
  • Total voters
    405

easyrider

easyrider

easyrider

Caporegime
Joined
24 Dec 2005
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Could you quit your job and have 12 months backup?

As in...Pay your way...

Choose a new direction? Move? Have the " I can quit anytime" in the back of your mind?

Is this an option for you?
 
Just about but it'd knob my savings over and scupper my future plans a bit. Are you thinking if you 'wanted to' or if you were 'forced to'?
 
Yes but only because my missus has a good job. In fact I did when we moved 18 months ago and only just got a new job last week (still waiting on start date).
Whilst it sounds nice to sit around and take a year off, if anyone is like me (and I imagine they are), then you will be climbing the walls for something to do after just a month or so, fortunately I've had a house to decorate/renovate/move into but I don't think I could sit around all day not doing anything.
 
It depends on exactly what you mean. Right now I have not far off two months worth of salary in savings, but if it came to the crunch and I lost my job we could make that go further, particularly if I asked my bank for a mortgage holiday, which I don't think would be that unreasonable as we've been overpaying for ages. Beyond that, if things were really bleak, we could sell our house and rent a place and cut back on expenses and live off the capital that would release for a couple of years, maybe more.
 
The wife woud need to pick up a load more shifts and the savings would take an absolute hammering I reckon. I wouldn't be comfortable enough to quit, I'm on a pretty good deal at work.
 
Could probably do it easily if it was just to live, not very entertaining or interesting.
 
I did this in 2007, was easy. Mind you I flew to Pattaya right after I quit my job where the prices are a lot lower than the UK.
 
Well, if I was made redundant the state pays me 65% of my salary for 12 months and pays for any training I want....so not something to worry about.

But yes, even without that I could last a year or more. Make a dent in the savings though.
 
Right now we have plenty in savings and could afford to live on my wife's wages only anyway. However, about to exchange on a new house next week which will wipe out our savings and put us in a very difficult position if I was to lose my job, as my wife's wages wouldn't even cover the new mortgage payment. It does make me anxious.
 
Yes.

Could take my pension now if I wanted to albeit at reduced benefits (4 years off scheme age of 60) with added AVC + enough in savings to pay the mortgage off. Would need to be slightly more frugal than now but definitely survivable.
 
Vern1961 said:
Yes.

Could take my pension now if I wanted to albeit at reduced benefits (4 years off scheme age of 60) with added AVC + enough in savings to pay the mortgage off. Would need to be slightly more frugal than now but definitely survivable.
Click to expand...
Same , look into flexible draw down, might surprise you.
 
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