I believe that there is a point where "more money" loses its importance to your personal way of life.
true enough for me as i'm happy with food and shelter. but not to the madoff victim who slashed his wrists. he was probably down to his last few million.
To clarify, this poll is intended for those already retired?
this is a nondiscriminating poll.
I feel a sense of accomplishment by making it work....I got a different sense of accomplishment from work.
thanx for sharing the distinction. do you experience any loss of a sense of accomplishment in that when you worked your accomplishments were shared by others & benefited others (& perhaps taken advantage of by others) but now they are pretty much just for you. or does this enhance the experience?
Wiggles and downright steep downturns in the market will NEVER approach the stress I was subjected to for a paycheck. Never, not ever. If I were older and my portfolio was my only source of income, I know I would feel differently.
glad you qualified that. hmmm, stressed at work and still stressed with no work. i'm gonna go beyond my credentials here and prescribe more sex.
I feel much the same, watched the numbers fall off my charts and thought: "I've lived without it so far."
but did you live without it & without a job? heck, if i was working now i wouldn't even notice the depression.
I recall a trader saying that it felt 20 times worse when he lost money than it felt good when he won.
i think i tend to feel the downside more without feeling the upside much. probably doesn't eliminate my mood swings but maybe ballasts them a bit.
I answered yes to your first question and:
"money making money is more satisfying than working for money."
i'll have to go back and see what the 1st question was. as to money making money, i should have clarified that option (would be great to get everyone's imput first but then tough to do the poll after). what is satisfying about not working for money? when i think about my inheritance, i find it comforting but i wouldn't describe it as satisfying.
It never bothered me to lose money in the market in say, '74 or '87, etc., because I was working and nowhere near FI. Once I reached FI I was very concerned about it.
i guess just like there is some freedom to retirement which might balance stress caused by insecurities and market crashes, perhaps there is some security in employment which might balance stress caused there.
My current losses really aren't a major concern because what remains in those accounts is earmarked for spending way out in the future. I should worry about living so long? Like the younger person I was in '74 or '87, I (hopefully) have time to recover those losses.
i think what bugs me so much is having had these losses so soon upon quitting my job. it isn't that i won't have time to recover under any presumed 100-year scenario; it's wondering about what if this 100-year event happens again in my lifetime. what if this was a turn onto a rocky road?
My picture is probably in the dictionary under "risk averse". Because of that, I w*rked years longer than I would have needed to had I invested in a more aggressive manner. The upside is that it's been many years since I lost any money in my overall portfolio - even this year I think I'll squeak out a few bucks in gains.
i'm not talking to you, braggart! (just kidding.) actually good to know that not everything failed. i've still got time to rework this now that i'm getting a better idea of what i'm dealing with.
I'm in the minority I guess, but this one is more stressful to me than work. Investing as a retiree under our current economic situation is not fun at all.
you just might be in the silent majority. difference between you and me is i'm to vain to hit my head against a wall (do you have any idea what that would do to my complexion?)
For me, working for money is way more stressful than investing. Sure, when the market tanks you lose money, but that still is not close to the stress of losing a job.
relative to the amount of time i've worried about losing money while living off investments, i've had only very few moments of worrying about losing a job. plus, while i know it can happen, i've never seen a job disappear (without the ability to get another one) as quickly as i've seen so much money just vanish (without the ability to suddenly create more--outside, of course, of getting a job).
I have a bit of each......but the biggest one for me right now is to just concentrate on not letting my "Corporate F*** Y** fund" get to $5K.
do me a favor and will my funds up too while yer at it.