Well given I’ve been thinking of pulling the plug fairly soon, the past 2 weeks have been very much a gut check. Of course I’m concerned about SORR and was already planning a relatively cautious SWR in early retirement years.
But I found that during the worst worry I was more focused on the simple cheap things that I want to do rather than the spendy things that might not be affordable in extremis. In fact I think I was more upset at the prospect of having to work longer and miss out on walks, cycling, enjoying nature than I was at financial loss.
Worse case I guess, I take a historic bath because the world has been fundamentally destabilised and I have to return to working in some form.
And I do very much have Jonathan’s and Norman’s circumstances in mind. What if the next 30 years is only 5 or 10? While YOLO is a cliche for younger folk I think for anyone over 50 or 60 it seriously needs to be weighted in.
So not so much financial thinking but more a sign that my thinking has been heavily influenced by research about purpose and mental adjustment to retirement and that finances are the easier part.
The most recent “change” occurred in 2022 when I was diagnosed, but my actions didn’t change [while] my life was put on hold for 2 years.
My financial thinking hasn’t changed much since then. The current market turmoil will make no difference to my plans. Why? Because my reasons for investing the way I have has not changed. I will have the necessary stream of income despite market turmoil and the likely increases to the cost of living. My financial plans were finalized in 2013 with a range of likely outcomes.
I do admit I no longer count pennies. By that I mean I’ve loosened some aspects of the budget. I prefer to spend money enjoying things day to day. That means more restaurants and related costs because that’s an easier way than entertaining a group.
I no longer delay certain things because it is likely I won’t be here, so why delay for a future time next month or next year? My Lifetime Planner extends to 2050. That’s merely a planning tool (but then, it always was just a tool). There is a small possibility G will still be alive at that time.
I am calmer pre-retiree. I discovered Bill Bernstein’s “Four Pillars” book and Paul Merriman’s website and finally built up a TIPS LMP and a well diversified risk portfolio.over the last year.
SORR is a pre retiree or retiree biggest concern. Read the Trinity Study and Bergen’s book on the 4% rule. Unfortunately past history/results is not always a predictor of the future. Running out of money is a retirees greatest challenge
Well given I’ve been thinking of pulling the plug fairly soon, the past 2 weeks have been very much a gut check. Of course I’m concerned about SORR and was already planning a relatively cautious SWR in early retirement years.
But I found that during the worst worry I was more focused on the simple cheap things that I want to do rather than the spendy things that might not be affordable in extremis. In fact I think I was more upset at the prospect of having to work longer and miss out on walks, cycling, enjoying nature than I was at financial loss.
Worse case I guess, I take a historic bath because the world has been fundamentally destabilised and I have to return to working in some form.
And I do very much have Jonathan’s and Norman’s circumstances in mind. What if the next 30 years is only 5 or 10? While YOLO is a cliche for younger folk I think for anyone over 50 or 60 it seriously needs to be weighted in.
So not so much financial thinking but more a sign that my thinking has been heavily influenced by research about purpose and mental adjustment to retirement and that finances are the easier part.
The most recent “change” occurred in 2022 when I was diagnosed, but my actions didn’t change [while] my life was put on hold for 2 years.
My financial thinking hasn’t changed much since then. The current market turmoil will make no difference to my plans. Why? Because my reasons for investing the way I have has not changed. I will have the necessary stream of income despite market turmoil and the likely increases to the cost of living. My financial plans were finalized in 2013 with a range of likely outcomes.
I do admit I no longer count pennies. By that I mean I’ve loosened some aspects of the budget. I prefer to spend money enjoying things day to day. That means more restaurants and related costs because that’s an easier way than entertaining a group.
I no longer delay certain things because it is likely I won’t be here, so why delay for a future time next month or next year? My Lifetime Planner extends to 2050. That’s merely a planning tool (but then, it always was just a tool). There is a small possibility G will still be alive at that time.
I am calmer pre-retiree. I discovered Bill Bernstein’s “Four Pillars” book and Paul Merriman’s website and finally built up a TIPS LMP and a well diversified risk portfolio.over the last year.
SORR is a pre retiree or retiree biggest concern. Read the Trinity Study and Bergen’s book on the 4% rule. Unfortunately past history/results is not always a predictor of the future. Running out of money is a retirees greatest challenge