Living Entirely Off Savings and Investments

For the first time since retiring in 2007, we are living entirely off our savings and investments.  We have no pensions, no Social Security since we are under 62, and no part time current or upcoming part time jobs.

It will take some time getting used to having 100% of our expenses covered by savings and investments.  Since 2007, we've always had part time jobs to cover some of our expenses.  My biggest worry now is a market downturn like 2000 or 2008/2009 which could eliminate 40% of our savings and investments.  Going forward, we won't have the luxury of not spending our retirement accounts while waiting for a recovery.

Over the next week, I will be talking to our financial advisor on how we can minimize the impact of a significant market decline if it happens.

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This is not financial advice. Please consult a professional advisor.

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