What Retirement Planning Requires

If you've been reading these posts for a while or follow me on Twitter then you know I have come to believe that everything we were warned about regarding high fat diets actually pertains to high carbohydrate diets, that the cholesterol hypothesis is 180 degrees incorrect, that statins are the last thing anyone should take. I am betting my life on that outcome, I have had high cholesterol for as long as I have been going to the doctor as an adult but my triglyceride/HDL ratio is 0.64 and my calcium heart score is 5 so I like my bet. Don't take my word for it, do your own research and draw your own conclusions.

One other point from the article had to do with advisors having to tell clients they can't retire. Yeah, a 50 year old with $300,000 probably should not retire in the traditional sense but if they dread their job and need to make a break then as opposed to saying no, I think the framing from the advisor needs to be "ok, here are obstacles you will need to overcome." Thinking about the 4% rule, a $300,000 nest egg will generate $12,000/yr but taking 4% starting as young as 50 seems like a risky proposition. "If you take $12,000 year and then we have a bear market in your year two, you might have a serious problem, how can you overcome that?" is probably a better framing. "Can you get by finding work you love doing even if you only make half as much as the job you dread?" Answering yes to that is the optionality you get and that I always write about from living below your means. If you're 30 or 40 or any age really, do your future self a favor and build in as much optionality as you can in case you need it. I can't imagine being 50, undersaved, overmortgaged and dreading my job.

We've been looking at this for years, give yourself as long a runway as you possible can for figuring out what you hope to do in retirement, what you will do if that Plan A unravels and how you can help yourself have a more successful outcome. Being fit and having options seems like our best chance for a successful outcome.

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