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Do you have a Financial Comfort Zone?

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Exploring the Range

Try to imagine the enormous range of possible financial conditions in which human beings can live.

At the lowest end is bare subsistence—the minimum food and shelter possible to sustain life. At the highest end is unlimited wealth—multi-billionaires with more than they, their children, and their grandchildren could possibly spend.

Think: Abraham Maslow’s hierarchy of needs.

So - Do you have a Financial Comfort Zone?
What is it?

Finance
Emergency Funds
Savings
Dr. David E. Marcinko MBA
1 month ago

1 answer

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Bare minimum $1m, so you can still invest at my stage of life.
$20M high end to provide enough cash flow to replicate current earnings.
emergency funds used to be 90 days, since 2008 I have become increasingly conservative on this point. emergency needs to be closer to 1 year or more. again, I am in my 50's, this entire answer would be different if I was 28 years old.

and, I did start with zero. or less than that, as I had to put myself through BBA, MBA, CPA license.

Lorraine Teel, MBA, CPA
1 month ago
EFs: For docs, I've been advocating for`1-2 years cash equivalents; CRAZY? - Dr. David E. Marcinko 1 month ago
Yes, I am aware of the “paradox-of-thrift” conundrum. But, do you want to help the domestic GDP, or your family; you decide? Personally, my own concern is not the macro-economic milieu. - Dr. David E. Marcinko 1 month ago
David, not crazy. since 2008 cash needed on hand has grown substantially. LT - Lorraine 1 month ago
True; as well as the insane state of domestic healthcare today. CHEESE - Dr. David E. Marcinko 1 month ago
David, Healthcare is a whole other issue. It was my #1 cost the last few years, exceeding my housing costs by 20%. Do you feel that as well? what is comfort for you, today? LT - Lorraine 1 month ago
Sorry no; healthcare is not an issue. Im a doctor and professor. - Dr. David E. Marcinko 1 month ago
I grew up in the hood and armpit of Baltimore City. Most old kid friends are dead or drug addled. I am indeed blessed, - Dr. David E. Marcinko 1 month ago
Ahhh should have read your profile on being a doctor. LT - Lorraine 1 month ago
Mea Culpa! - Dr. David E. Marcinko 1 month ago

Have some input?