Originally Posted by haha
....This is the old "don't eat the seed corn" argument. This cannot be wrong over time.
"Don't eat the seed corn" is a smart philosophy for those that
(a) are happy to work long enough to
(b) develop high enough assets to
(c) support low enough yearly spending and are
(d) happy to have money left over at their passing for beneficiaries or other causes.
I gave significant thought to that philosophy before retiring partly because i have kids that would benefit from the large amount that would be left over after my passing (item d above). I thought of working those extra years as basically just working for them. When I honestly looked at our numbers and the market expected returns, I decided that this philosphy would require too many of my remaining years to address a very small probability that our money would not outlast us. Thus began the exploring what HaHa calls the "cult past time" methods.
In our case, there is still a very high probability that the kids will still have much passed on to them even using "3-Peat" or similar methods. Chances for running out of funds before we pass is basically nil unless
dramatic changes occur in the economy and
we blindly (and stupidly) keep spending at maximum levels. Eventually that could lead to our maximum yearly available spending funds being less than non-discretionary spending and the plan would "fail". Not likely for us but something anyone considering "eating the corn seed" should consider.