My rent and food in NYC are less than $14,000 with roommates. I have a savings if something goes wrong.
The ”why did I do this” crisis of the middle-aged academiac often goes hand-in-hand with this realization. It’s fun to be frugal in your 20s though.
Medical expenses, well, we live in the Usa. You just find a way to skate by until you don't. Obviously the political solution needs to be "Medicare for all", but I don't have the power to fight the multi billion dollar insurance lobby :)
Living off of savings is sustainable if you have $50,000 saved and only $1,000 a year in excess spending.
I currently make $50,000 a year. But, I usually get laid off, because I am precariously employed. So, after taxes, I usually only take home about $25,000 a year.
I would be much happier with a guaranteed $17,000 a year instead.
There is no reason why losing your job should mean the choice between paying $800 a month for Cobra or going uninsured. Medicaid fills this problem ($30 in NY state for those who make I believe below $19,000 a year), but many doctors do not accept it.
So I think it's time to either force doctors to work for less or to force the rich to pay for Medicare for all. Because right now prices are inflated and only the rich/employed can afford relatively accetable care.
And no, even I don't have coverage in this job! XD
So the annual rate of $50,000 is inaccurate (Americans always boast about their annual pretax salary). I face usually 3 months of unemployment every year, so 9 x $3,000 post tax per month = $27,000 a year
Sorry if that wasn't clear. I would really prefer to have guaranteed but lower income.