Subject: Re: OT-Early Retirement (Barron’s)
“I expect most of these nouveau early retirees couldn't take a 50% drawdown with a 5-year recovery.”

Yes, I shared a similar anxiety & plunge in assets on paper during ‘01-02 and the GFC. Your scenario above was my big “what if” test & having enough of a residual nest egg that our standard of living would not change AND feeling like our temperament and patience is appropriate to ride out the storm (unlike years past).

WEB & CTM reminded us BRK price has been cut in half 4 times. That being said let’s hope it never happens in our remaining time on Earth!

"If you're not willing to react with equanimity to a market price decline of 50% two or three times a century, you're not fit to be a common shareholder and you deserve the mediocre result you're going to get.”- Munger