Talking about nest egg and financial status (standard of living level).


I think it is quite good to know, about people's financial behavior, i.e. how much they save and spend, how much they care about future, how much they prepare for bad economy or crisis beforhand,...

What do you mean with "life level"?

When I moved to Switzerland at 25, I calculated we could live for 17 years on our level of spending then should we have no job income. Now it would be substantially longer.

I have never spent all I earned, purchased things only after I have saved up the money (apart from houses of course), and I have never relied on my day job as my only source of income. As for quality of living, I have shelter, live in nice quiet area, and I have my family.

No offense, but I really wonder what is the point of such a poll ?!

Thanks

By life level, do you mean standard of living?

Do you mean with or without unemployment benefits?

I mean living standard .

think it is quite good to know, about people's financial behavior, i.e. how much they save and spend, how much they care about future, how much they prepare for bad economy or crisis beforhand,...

I assume we live and work in CH, so with CH unem. benefit.
But if someone doesn't have that benefit, then without it!

No wonder, why you live in Zug

It's a stupid question because if you have saved /inherited CHF5million you will be able not to work until you die...

So what?
Then either tick "more than 6 years" or don't bother urself with this thread


Do you smoke again? If yes what? :-)

I live in Zug because I work in Zug. My husband commutes into Zürich, and spends less time doing so than many of his colleagues that live accross town. Housing is much cheaper here too. The taxes and having a lake close by are just bonuses.

I thought housing in Zug was more expensive than everywhere else due to the low tax rates?

Your ability to ride through this crisis will depend on your level of fixed-spending - house, insurance, car payments and debt payments. The remainder of your spending can cut as soon as you know your job is going.

It's a bit of a random poll really, as everyone's circumstances will differ. Some will have little or no savings to fall back on and cannot qualify for unemployment insurance (and so will end up under a bridge within a few weeks or months) while others have millions salted away in terms of savings and investment and actually could happily live off this for the rest of their lives.

Personally, I should qualify for unemployment insurance and have a good bit salted away, so I could (in theory) have a modest but comfortable lifestyle for a few years.

The real question (unless you are wealthy enough that you don't need to work) is who wants to be unemployed for X years?

Well, having some savings will allow someone to be a bit more picky when looking for a new job, rather than having to take the first available one and then be miserable.

THE ONE WHO CAN AFFORD IT

And that's what I wanted to know!

I don't disagree with you - no one wants to settle for a job that they would otherwise not apply for, but I was questioning the scope of this survay. Let's face it; there really is no reason for an able bodied person to remain unemployed for six years! It's one thing to not go for the first job, but another to hold out for that long. Indeed, a gap in employment of several years would raise the eyebrow of any employer.

An interesting question, in my own case I think it would be a few months but that's very hard to say. It would require substantial reviews of spending and luxury items (cars for example) but then again, I have survived for a couple of years scrimping and saving to be able to afford some fun and enjoyed learning all about "101 ways to cook tuna pasta" - I don't relish the thought of doing that again though

I doubt there are many people who are lucky enough to have that sort of cash on hand at 25. Heck, there aren't many people who would be lucky enough to have that sort of cash on hand at 50.

I think you're only entitled to unemployment benefits for two years, so if you were relying on that as your only income, then two years would be the max.