Can I Still Retire if the Stock Market Crashes?
Many wonder if a downturn in the stock market will delay or ruin their retirement plan. It’s safe to assume that anyone depending on growth in an overvalued market is either stupid or desperate. When a person is desperate, fear drives them to make stupid decisions. Our goal should be to eliminate fear and make rational and logical decisions about our futures.
A Victim of Circumstance
Since birth, you have made choices based on your circumstances. You may have had some control over your circumstances, but in the end, they controlled all of your options. Remember, “If wishes were fishes, we’d all swim in riches.” When it comes to retirement, it would be best to own a goose that lays golden eggs, however, most aren’t so fortunate.
It’s popular today to recommend that workers put off retirement until they’re seventy. During this time, they should maximize contributions to their portfolio while miraculously balancing growth and security. It seems a little dimwitted to forego enjoying the best years that you have left, for the flimsy promise of a larger savings account. Fortunately, most don’t fall for this option. Look around at work, everyone seems to be gone by sixty-five. Unfortunately many choose death or disability to escape when all they had to do was quit.
The sooner you retire from the rat race, the easier it is to use your nest egg to create the retirement life of your dreams. Depending on their circumstances, people manifest their dreams with lots of money or with no money. Building the portfolio doesn’t build the dream. The belief that it does, probably kills more dreams than it reveals.
Should You Invest in Yourself, or Gamble in a Tank Full of Sharks?
At a gambling casino, the house wants to make a profit, while providing entertainment that the customer will return for, time and time again. At the stock market, pros wait for gullible fools to believe their lies. At the opportune moment, these pros will rob, rape and leave for dead these amateurs that dared to walk into their neighborhood. When people invest in themselves, they look for opportunities to profit from and repeat whatever works for them. By opportunity, I lean more towards selling doilies on Etsy as opposed to trying to cheat the mob. Inevitably, most should invest in themselves, as very few manage to save decades worth of income by trying to play a system that is stacked against them.
What if the Stock Market Crashes?
Yes, you can still retire. You may have no money, but that will just be your new circumstance.
That tax deferred status of your 401k may be keeping you in an inflated market that you should be running from. Maybe you’re just afraid that your friends will call you chicken. The day after the market corrects, you may realize that, yesterday, you could have paid the income tax and bought that self-sufficient homestead. But, not anymore! Or, maybe you’ll believe Merrill Lynch’s assurances that your money will reappear someday.
People want to retire. No matter how accomplished, successful or proud one is of their career, the fact remains that most people want to live free before they leave the earth plane. Many will worry about money and will never have that opportunity.
If the banking system stresses you, be a rebel retiree and put your savings elsewhere.