Sunday, 11 September 2016
When is money is enough??? (3)
Read? When is money is enough??? (2)
Talk is easy but in real life facing real discretionary expenditure is not that simple and easy!
Since Uncle8888 is a retiree soon with no earned income; Auntie8888 was thinking not to renew her annual subscription at $1.2K with Amore Fitness at Kovan in Nov 16 to help to reduce household living expenses.
Uncle8888 laughed it off and told her to go ahead and renew.
Nothing will change this fast!
It is quite clear even Auntie8888 is quietly getting worry over future cash flow without an earned income and not easy to trust cash flow from financial assets to be sustainable for the rest of the lifetime.
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I Guess financial assets are not consider as stable a cash flow as earned income. Because you will be subjected to the market volatility which you cannot control. You can only control the 3M.
ReplyDeleteConventional wisdom of passive income > expenses is financial independence without any reference to sustainability of passive income over market cycles. How wise?
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DeleteSo how to ensure sustainability of passive income over market cycle? Have a bigger margin of safety for the passive income over expenses?
ReplyDeleteHi CW8888,
ReplyDeleteAgree with you fully. It is impossible to predict how passive income sources (e.g. dividend paying stocks, rental properties) will turn in the future....
CW8888,
ReplyDeleteSame same for my wife. She is very worry when I told her my plan to retire early. "Money NOT enough" seems to be the worry of most people when approaching retirement age. Sigh!
Sigh!
DeleteSingle just retire!