A Dutch city is giving money away to test the basic income theory
1–10 of 552 posts
Re: A Dutch city is giving money away to test the basic income theory
#2I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'.
I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'.
That alone would improve my sanity immensely (I think), and yet it's only a small conceptual jump between what I'm already doing day-to-day.
Re: A Dutch city is giving money away to test the basic income theory
#3I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
The number I've heard is 20x your annual expenses. I don't think there are any meaningful sources to cite here, but I remember reading that from the Mr Money Mustache crowd.
Re: A Dutch city is giving money away to test the basic income theory
#4I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
You need to save about 30 times what you spend in a year. Invested in index funds, you can withdraw 3-4% per year basically indefinitely.
Re: A Dutch city is giving money away to test the basic income theory
#5I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
The problem is that if you're at an income level where you could comfortably save up for something like this, you're also likely to have much higher fixed costs (bigger house, car, etc) and more expensive habits (food, subscriptions, etc).
That said, without living particularly frugally I'm currently able to save up to a third of my monthly income. This means that without cutting costs I could spend one month jobless for each two months of saving. Truth be told there's still plenty of spending I could cut back on, although that would mean a change in lifestyle.
Time to start saving too?
Re: A Dutch city is giving money away to test the basic income theory
#6I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
The problem there is that you have a cushy programming job.
The bigger question is what about the gas station clerks? Or cleaning people? Or wait staff? Or any of the people working the millions of other jobs that just totally suck. Having done it in the past, I'm 100% sure nobody wakes up totally stoked to go bus tables or wash dishes.
So, maybe people who have awesome jobs will just keep doing what they're doing, but for people with shitty jobs, why not say, "F* it, I can get by with the guaranteed minimum, so why bother?"
Re: A Dutch city is giving money away to test the basic income theory
#7I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
The number I've heard is 20x your annual expenses. I don't think there are any meaningful sources to cite here, but I remember reading that from the Mr Money Mustache crowd.
The number is actually 25. It is based on a withdrawal of 4 %: http://www.mrmoneymustache.com/2012/05/29/how-much-do-i-need....
Re: A Dutch city is giving money away to test the basic income theory
#8I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
The problem there is that you have a cushy programming job. The bigger question is what about the gas station clerks? Or cleaning people? Or wait staff? Or any of the people working the millions of other jobs that just totally suck. Having done it in the past, I'm 100% sure nobody wakes up totally stoked to go bus tables or wash dishes. So, maybe people who have awesome jobs will just keep doing what they're doing, b…
Depends. If every euro you earn there adds to your unconditional minimum income, instead of replacing a euro from welfare, the motivation to work for that new car, or whatever, becomes pretty tangible.
Note that €900 (or €1300 for a family) is pretty barebones. You won't be putting much more than bread and potatoes on the table using that. And you'll probably live in a rather small house too.
Re: A Dutch city is giving money away to test the basic income theory
#9I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
Assuming you average 7% each year on the S&P 500, inflation averages 3%, and 50K per year is your target, you would want at least 1.25 million USD in the bank. Taking into account volatility, you'd probably want at least 1.8M.
Re: A Dutch city is giving money away to test the basic income theory
#10I wonder how much you'd need to save and to own in order to conduct this experiment on yourself? I've wondered about what I would do day to day if I didn't 'have to work to live'. I honestly think I'd be doing very similar things. I'd still be programming, and I'd be wanting to make things that'd help people do their jobs better, but I wouldn't feel like I 'had to'. That alone would improve my sanity immensely (I thi…
The problem there is that you have a cushy programming job. The bigger question is what about the gas station clerks? Or cleaning people? Or wait staff? Or any of the people working the millions of other jobs that just totally suck. Having done it in the past, I'm 100% sure nobody wakes up totally stoked to go bus tables or wash dishes. So, maybe people who have awesome jobs will just keep doing what they're doing, b…
> So, maybe people who have awesome jobs will just keep doing what they're doing, but for people with shitty jobs, why not say, "F* it, I can get by with the guaranteed minimum, so why bother?"
As more of their jobs get automated away, this could be seen as a feature.