Re:Investing for Geeks
by loeg on Saturday September 17, 2016 @12:26PM
(#12521139)
Just because the market's down doesn't mean you can't spend retirement savings. You wouldn't need to starve (as someone wealthy enough to retire in 1929). Ideally you scale back your spending and look for work.
Social security was signed into law in 1935 (6 years later).
The problem isn't lasting the first 6-15 years (4% rule of thumb = 25x yearly spending; in very low risk cash/bonds obviously that lasts around 25 years), it's having any money left over to last the rest.
And keep in mind, 1929 and ~1965 are the two worst years to retire in in US history.
Social security was signed into law in 1935 (6 years later).
The problem isn't lasting the first 6-15 years (4% rule of thumb = 25x yearly spending; in very low risk cash/bonds obviously that lasts around 25 years), it's having any money left over to last the rest.
And keep in mind, 1929 and ~1965 are the two worst years to retire in in US history.