APs unable to work

You're a full time AP, and you're now laid up in a hospital with your legs and arms up in traction for 4-6 months.

Are you prepared, or has your proverbial Titanic just hit the iceberg? Or somewhere in between?

I'd transition to more online AP'ing... assuming I could move my hands at least (mouse). Or you could hire some college kid for $10/hour of your EV to come with a laptop and just do what you tell them to do (or a friend/family member/etc/etc).

Does Axel have part of our AP action? Doesn't his team come with Health/Disability Insurance??? =D

It's somebodies fault. Hire a good lawyer!
Ain't capitalism great?
And of course Obama Care will cover everything and The Wizards taxes will cover Obama Care!
Ain't socialism great?

I've had six months expenses set in a separate account most of my adult life. Not invested, just sitting there as an emergency fund.
Looking back, I wish I had been a bit more aggressive with it, but it has been one less thing to worry about. When I was working, I also had private disability insurance.

Take the study of your choice regarding Americans living paycheck to paycheck

Quote: onenickelmiracle

Take the study of your choice regarding Americans living paycheck to paycheck

I'll wager 80% of them have cable and a flat screen tv, a smart phone and at least one pair of $100 sneackers

You AP mice: sometimes you run into a mean cat.

I didn't know that many people are living paycheck to paycheck. But like what billryan said, most likely have cable / fancy TV's, a car or house they shouldn't be able to afford (mortgage or rent), and probably "waste" money on entertainment, partying/alcohol, cigarettes etc. (waste in quotes because it's sort of a waste but also not, re entertainment), and other stuff like that.

I remember plenty of people I worked with would be complaining about not making enough money at work.....but sure as hell, they'd regularly be at the bar after work, either spending $20 on alcohol or losing $20-40 gambling.

I would hope I have an emergency money fund for at least 6 months AND enough to pay my hospital bills if I were a full time AP and suddenly ended up in a hospital for 6 months!

Hope is not a strategy.

Any AP who doesn't have six months "reserve" should consider this thread a wake up call.

I would go in my wheelchair and AP blackjack hard core with 1-1000 spread until I get backed off. Then i'll refuse to leave and when security comes I'll lock my wheelchair and laugh as they can't roll the wheels and have to carry me. Then i'll "accidentally" fall off the wheelchair and sue the casino security for dropping me on the floor from 5 feet height with the help of bob naresan

Quote: rxwine

You're a full time AP, and you're now laid up in a hospital with your legs and arms up in traction for 4-6 months.

Are you prepared, or has your proverbial Titanic just hit the iceberg? Or somewhere in between?

Being an AP is like being a consultant or massage therapist. It's unlike most store-front businesses.

What I like about being an AP, is on average I can earn 1 year's living expenses in 2 weeks. ...and take the rest of the year off.

It depends on your income to expense ratio.
Many "homeless APs" don't even have 1 month's expenses. If they don't make enough each day, they sleep in bushes, on slot machines, in casino buses, etc...

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Imagine you are a business consultant at $100/hr, or you do odd jobs below minimum wage $3-5/hr.

At $100-150/hr, in 2 weeks of 8 hrs/day, you have $11-16K. Could you pay 1 yrs expenses with $11-16K? No tax if that's your total yearly income.

At $3-5/hr, in 2 weeks of 8 hrs/day, you have $336-660. Can you pay 2 weeks of living expenses with $336-660?

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On the crazy gambling side... (aka "homeless APs", who sometimes rent apartments or houses, or buy new cars/trucks)
Someone just told me last week about a (not-very-good) AP who pawned his car for more money to gamble. :-)
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In one area where I play, there are about 10-15 "homeless AP"/"AP with apartment & new car" who's gross income is low six-figures, but the net profit is negative/neutral after leaks (gambling <100% games) and expenses (drugs, women, expensive GF/BF/kids). Their bankrolls rise & fall, and often go to ZERO (but they've got a future income stream of Free Play - "implied bankroll").

Big difference between ($100K gross profit, -$10K expenses, $90K pre-tax net profit) and ($100K gross profit, -$40K gambling, -$60K expenses, $0K net profit).

I guess you could describe them as "people with gambling problems" who know some AP strategies. Others might call them "gambling pros". They do have a lifestyle where they don't have to work a regular job, and bills do get paid (mostly). They are like regular people who work regular jobs and have $100K-250K salaries (taxes), but spend everything. ...with NO unemployment/disability coverage.

Quote: mamat

Being an AP is like being a consultant or massage therapist. It's unlike most store-front businesses.

What I like about being an AP, is on average I can earn 1 year's living expenses in 2 weeks. ...and take the rest of the year off.

It depends on your income to expense ratio.
Many "homeless APs" don't even have 1 month's expenses. If they don't make enough each day, they sleep in bushes, on slot machines, in casino buses, etc...

----
Imagine you are a business consultant at $100/hr, or you do odd jobs below minimum wage $3-5/hr.

At $100-150/hr, in 2 weeks of 8 hrs/day, you have $11-16K. Could you pay 1 yrs expenses with $11-16K? No tax if that's your total yearly income.

At $3-5/hr, in 2 weeks of 8 hrs/day, you have $336-660. Can you pay 2 weeks of living expenses with $336-660?

-----
On the crazy gambling side... (aka "homeless APs", who sometimes rent apartments or houses, or buy new cars/trucks)
Someone just told me last week about a (not-very-good) AP who pawned his car for more money to gamble. :-)
-----
In one area where I play, there are about 10-15 "homeless AP"/"AP with apartment & new car" who's gross income is low six-figures, but the net profit is negative/neutral after leaks (gambling <100% games) and expenses (drugs, women, expensive GF/BF/kids). Their bankrolls rise & fall, and often go to ZERO (but they've got a future income stream of Free Play - "implied bankroll").

Big difference between ($100K gross profit, -$10K expenses, $90K pre-tax net profit) and ($100K gross profit, -$40K gambling, -$60K expenses, $0K net profit).

I guess you could describe them as "people with gambling problems" who know some AP strategies. Others might call them "gambling pros". They do have a lifestyle where they don't have to work a regular job, and bills do get paid (mostly). They are like regular people who work regular jobs and have $100K-250K salaries (taxes), but spend everything. ...with NO unemployment/disability coverage.

I could live fairly comfortably on $12k/yr in my current situation. And that is in a fully renovated house I recently purchased. No car payment or other debt. If I had kids or something that would be a different story.

I never understood how people who make $100k+ can allow their lifestyle to creep so high that they are essentially broke at the end of each month.

Quote: gamerfreak

I never understood how people who make $100k+ can allow their lifestyle to creep so high that they are essentially broke at the end of each month.

MC Hammer syndrome.

Quote: gamerfreak

I never understood how people who make $100k+ can allow their lifestyle to creep so high that they are essentially broke at the end of each month.

I have a family member (who never gambles) who does this...

Not only broke, but negative (credit card debt).