Trawler
Recycles dryer sheets
So many us are FIRED with our wealth tied to the markets which has risks. We have calculated those risks using all kinds of calculators etc.
My question has anyone here gotten to the point where they pulled out the markets because they calculate they do not need anymore portfolio growth or income from the portfolio to live the way they want for their balance of time on the planet and did not want to take anymore risk? Hence Game Over!
The reason a pose this question is a dear older friend of mine was asking me what I invest in and wondered how risky those investments were. I explained to him it was his risk tolerance and his time horizon for his investments that mattered. He then shared with me how much he had and how much he needed each year to be happy and he did not like much risk but felt compelled to invest it. What I found out is he has enough to spend 2x what he needs to be happy and live to 122 with out earning anything from his portfolio. I said to him why take any risk at all you my friend have won the Money Game why not exit? Do you need to leave something behind for the kids? No need to leave anything behind but he does like to watch it grow. This conversation took place a few months ago and last night he told me he thought about what we talked about and decided he did indeed had Won The Game and pulled out of market now all cash and is laddering CDs.
It also started me thinking if DW and I reach game over status what would we do? Based on firecalc and if history repeats itself we have a high probability of reaching the Game Over point
Any thoughts on this
My question has anyone here gotten to the point where they pulled out the markets because they calculate they do not need anymore portfolio growth or income from the portfolio to live the way they want for their balance of time on the planet and did not want to take anymore risk? Hence Game Over!
The reason a pose this question is a dear older friend of mine was asking me what I invest in and wondered how risky those investments were. I explained to him it was his risk tolerance and his time horizon for his investments that mattered. He then shared with me how much he had and how much he needed each year to be happy and he did not like much risk but felt compelled to invest it. What I found out is he has enough to spend 2x what he needs to be happy and live to 122 with out earning anything from his portfolio. I said to him why take any risk at all you my friend have won the Money Game why not exit? Do you need to leave something behind for the kids? No need to leave anything behind but he does like to watch it grow. This conversation took place a few months ago and last night he told me he thought about what we talked about and decided he did indeed had Won The Game and pulled out of market now all cash and is laddering CDs.
It also started me thinking if DW and I reach game over status what would we do? Based on firecalc and if history repeats itself we have a high probability of reaching the Game Over point
Any thoughts on this