disneysteve
Thinks s/he gets paid by the post
- Joined
- Feb 10, 2021
- Messages
- 2,359
How much did you have set aside in cash (or plan to if you're not yet retired) at the time of retirement? I read recommendations for anywhere from 1-3 years of expenses but I'm curious what actual people have done.
Having a stash of cash can lesson the anxiety of knowing if you'll have enough money to pay everything. It also eases the concern over the market crashing the day after you retire since you'll have money set aside to live on for a while and give the market time to recover. Drawing from your cash also won't count as income for any triggers like ACA subsidy or other things.
If you had a lot, were you glad you did? If you didn't have a lot, do you wish you had? Did you have a pension or other guaranteed source of income that made you feel a large cash position wasn't necessary?
Having a stash of cash can lesson the anxiety of knowing if you'll have enough money to pay everything. It also eases the concern over the market crashing the day after you retire since you'll have money set aside to live on for a while and give the market time to recover. Drawing from your cash also won't count as income for any triggers like ACA subsidy or other things.
If you had a lot, were you glad you did? If you didn't have a lot, do you wish you had? Did you have a pension or other guaranteed source of income that made you feel a large cash position wasn't necessary?