I was not prepared for the magnitude of the 2008 - 2009 stock market decline. I had significant amounts invested in equities, still owned significant amounts of company stock and was projecting 7% annual growth in our investments assets. It would be an understatement to say I was shocked by the ensuing 40% drop in our investment assets during the 08/09 market decline. My early retirement was suddenly at risk for failing as our financial capability to continue retirement was not certain.
At that point, we hunkered down and made some significant changes:
Now we are better prepared for a major correction. Although a significant market decline will still be painful, the actions will help us maintain our current standard of living while waiting for the market to recover.
For more on Reaping the Rewards, check back every Friday for a new segment.
This is not financial or retirement advice. Please consult a professional advisor.
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September Income – $4560.09
1 day ago
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