3 Questions -- I'm retired

3 QUESTIONS - I’m retired. I receive a Pension. Since December, the brokerage account with Fidelity pays me $ per month. Q1 - Am I supposed to be chill during this dip? I was thinking to payout $2,000 less per month. Q 2 - Is this a good idea? Also, my allocation is 60% stocks 40% bonds. Q 3 - Should I change this?

Q1: Are all basic expenses covered? Are minor luxuries covered? With current inflation do you feel worried month to month?

Q2: what would $2000/month less look like? Does your budget/expense tracking still cover everything with $2000 less? How would this affect your day-to-day/week-to-week?

Q3: See chart, review your financial plan. Decide if you should change it. (I’m not a CFP, not investing advice…liability disclaimer yada yada)


Thank you for your graphs. I retired and invested my $ in a brokerage account in December, so I’ve taken a hit of around 14%+ like everyone else. My $1.1 mil account is around $968,000 today. Wow.

I decided to withdraw $1,000 less each month starting in June 2022. And withdraw $1,000 less each month 10 years from now, and $1,000 less each month 20 years from now to allow the brokerage account to grow. I’m going to try to depend on my pension and social security more. I’ve read that we spend less as we age. The most expensive years are the first 10 years of retirement when we have the energy and desire to travel, etc.

I changed the allocation of my portfolio to 65% stocks and 35% bonds to take advantage of lower priced stocks. I might go up to 70% stocks. When the market recovers, I will check in with myself.
Can I take this rise and fall? How much longer can I take this risk? Ultimately, rebalance to 50-50 stocks and bonds.

The risk is real when retired and living on passive income.

I’m looking at returning to teaching part-time – maybe a 20% job, to get me through this period. This market stresses me out a little. Though people are worried about a recession, it seems there is lots of consumer spending and a lack of some products like cars – not what you’d see during a regular recession. So it’s inflation we are worried about?

Looking forward to the market looking better soon.

Do you know what your estimated safe withdrawal rate is?

Your spending may be lower but don’t forget to account for rising healthcare costs.

@ShaneSideris is more of an expert in this area and he might be able to provide some more guidance in this arena.