Reply to My issue with stock market bubble fears

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This fear about running out of money when you are approaching retirement is just psychological. The withdrawal rate studies have already taken into account world wars, 70's inflation, 1929, etc. What you are seeing is basically people changing their risk tolerance as they get older, which is pretty common. [/quote]

The withdrawal rate studies tell us ON AVERAGE what works best. Under that average are the experiences of real people, some of whom made out like bandits, others who took it in the teeth.

The idea that everything will be fine if we all just stay in the market, keep reinvesting, and follow the advice from the withdrawal rate studies on when/how much to withdraw is fantasy. Everything will be fine ON AVERAGE. For some people, things will very much not be fine.[/quote]

Those studies taken into account the worst periods of time in recent US history. Changing your allocation to something more conservative out of fear generally doesn't go well. But you have to look at the withdrawal chart to see your odds of success. This is all the past and the future is unknown obviously. If you're scared and you think that you won't be fine, [b]my best advice is to not quit your day job.[/b][/quote]

Very comforting advice to people who are 65 years old.

But anyway, it seems like you do understand the issue, you're just not worried about it because you are too young to be affected by it.[/quote]

When you are 65 you get SS/Medicare and can qualify for all sorts of discounts, including senior housing if you are broke. Even if you aren't broke, there are many discounts for elderly.  In VA limited income seniors can get discounted RE tax even if they live in a luxury home and own a car. [/quote]

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