104. Financial Runway

How To Prepare for Quitting Or Losing Your Job

Sammie and Michelle take a look at what a financial runway is, how to calculate your financial runway and the benefits of knowing your runway. Knowing your runway is helpful if you want to take time off work and are wondering how to prepare for a sabbatical and/or if you find yourself unexpectedly out of work and want to know how long you can live off your savings and investments.   

Happy Birthday to Julie!

Show Notes:

• Burn Rate: What It Is, 2 Types, Formula, and Examples

• Roth IRA Withdrawal Rules

• Trinity Study

• #390: Ask Paula: HELP! My Bills Are Too High 

• Michelle's Runway Calculator

Catch Michelle on the Pathless Path Podcast 

• Pathless Path Podcast: https://think-boundless.com/podcast/

• The Art of Sabbaticals - Cécile and Michelle on finding "forgotten hobbies", writing online, improving their relationship with money, abundance mindset and rediscovering joy

• Pathless Path (book)

Related Status Post Adulting Episodes:

• #16: Tracking Your Spending

• #31: How To Invest In Index Funds

• #45: Calculating Your Savings Rate

• 93. Wait...What's FIRE Again?