how big should your warchest be?

[lorakeen]

Had a discussion with a friend who's been offered a contract and is thinking of leaving permiedom for it.

This ended up with a talk regarding the optimal size of one's warchest. I told him mine is set to cover me for 2 years, and he claims that's rather extreme and surely one shouldn't need more than 6 months if that.

What do you guys think?

[ladymuck]

It's all down to your attitude to risk.

I'd say 6 months is the bare minimum and if you can stash more then you should.

[lorakeen]

It's all down to your attitude to risk.

I'd say 6 months is the bare minimum and if you can stash more then you should.

That seems prudent. Also I think one should factor in the normal demand and availability for one's skillset and plan accordingly.
I've never been without a contract for more than 2 weeks, but I tend to be over prudent - I'd rather be safe than sorry. But my friend seems to be blinded by the amount of money he'd get and doesn't, imho, consider the risks that come with the move (in NL it's a bit harder to move between contract and perm because mr Taxman is a bit of a c-word).

[BR14]

10 to 20 years should be adequate IMO.

[lorakeen]

10 to 20 years should be adequate IMO.

we call that a retirement fund

[Whorty]

Mine runs out when i'm 120 years old .... I'll start to think about it in more detail when I get my telegram off King William

[lorakeen]

10 to 20 years should be adequate IMO.

Mine runs out when i'm 120 years old .... I'll start to think about it in more detail when I get my telegram off King William

so, next month?

[Whorty]

so, next month?

Cheeky git ... no, April 2023

[lorakeen]

10 to 20 years should be adequate IMO.

Cheeky git ... no, April 2023

"baack in the days of Wiliam the Conqueror..."

[quackhandle]

This size is best.


qh