I'd feel more comfortable starting to extract 3-4% a year with an 11,500 Dow than with a 14,000 Dow.
But Firecalc says it's all OK, right? Right?
Which shows that, same as hanging tough in bear market and rebalance, meaning buying more stocks when they are down, theory and practice are quite different. I know myself, and I'll admit being scared sometimes.
I think it is like a soldier going into a battle. No matter how much training they give you in boot camp, how realistic they make it, there's nothing to prepare you for the fright when you hear explosions around you, and see your fellow soldiers falling down. It's tough, I admit it anytime.
BTW, has any forum member fallen down?
Optimum time to retire: when your net worth (in this case not including house) hits 40x your yearly expenses.
I am there, if I exclude travel. For us, without travel retirement loses quite a bit of meaning. So, I might as well go back to work (if that offer is still outstanding).
Nah, just kidding. Next year, the market will rebound and I will make up for the trip I cancel this year. I use Firecalc as a guideline, but subscribe to Gerald Loeb philosophy. He said to cut back spending in tough years, and splurge in good years. Of course, that means you have to keep a bit of safety margin. As frugal as I am, I always have big margins.