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A Chasing Sunsets Fund – A Better Way to Plan Nice-to-Haves in Financial
Independence.
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One of the spending needs that many of you would consider as part of the
income needs for your financial independence (FI) or FIRE, is to have
enough mon...
3 weeks ago
How many know enough is enough and then stop?
ReplyDeleteLosses and seeking financial independence same same?
How much is enough then we shall stop it?
It depends ...
ReplyDeleteThose who are young & starting to save and invest for retirement should be on their knees praying for a HUUUUUGE bear market.
Those who are relatively good momentum traders should also be going to church/temple/mosque every week praying for BIG bear market.
Those in their 50s or 60s or 70s with large allocations to equities and being "fully invested", but who lack tactical asset allocation skills, will be CRUSHED by HUUUUGE bear.
That's what happened to many baby boomers in the US when GFC occurred. Many had to delay retirement; many others had to come out of retirement, as their retirement funds kena demolished.
Lucky for them got Paulson, Bernanke, Geithner, Obama to the rescue & make them whole again within 6 years.
Any financial advice, view or tip has to be dispense at very personal financial level. General assumption is seldom sustainable as each household is different so their financial needs and goals tend vary.
DeleteYounger tend to have time but may lack the account size. Older may have larger account size but lack of time. :-)