Like many, while my greed gland loves the continued run up in the market, I can’t help but feel we are close to another correction. How much/how long/when it happens, who knows? Being 2 years out from launching, I can’t help but “fear” I be “that guy” who retires right before the big drop, statistically putting me at a disadvantage of a successfully RE. While I am underwriting to a very generous spend budget with significant discretionary spending, I would like to think my SHTF budget is my fallback.
While hopefully the Great Recession was a once in a life time experience, curious as to how those of you who were retired before 2008 and more specifically those of you who retired 2007/2008, but fore the SHTF made your adjustments...
- Went back to work?
- Panic/sell assets/adjust AA?
- Cut your budget and road out the storm?
- Sold the Porshe?
- Had brass balls, stayed with AA, no panic sale, no change in spending budget?
If you had a pension that covers most of your expenses, this question is probably not for you. I am curious to hear more from those of you who rely 100% on your assets to fund your retirement. Your experiences will help many of us getting ready to launch plan accordingly. Look forward to your wisdom!
While hopefully the Great Recession was a once in a life time experience, curious as to how those of you who were retired before 2008 and more specifically those of you who retired 2007/2008, but fore the SHTF made your adjustments...
- Went back to work?
- Panic/sell assets/adjust AA?
- Cut your budget and road out the storm?
- Sold the Porshe?
- Had brass balls, stayed with AA, no panic sale, no change in spending budget?
If you had a pension that covers most of your expenses, this question is probably not for you. I am curious to hear more from those of you who rely 100% on your assets to fund your retirement. Your experiences will help many of us getting ready to launch plan accordingly. Look forward to your wisdom!