"Have we taken stupid pills and ......we're old and stupid now..."

I don't think anyone who has read Roberta's posts would believe that description applied to her.

I've said forever on this forum that automatically adding 4% to an annual retirement withdrawal was anything but necessary. During my working life very few of my friends received guaranteed 4% annual raises. I certainly didn't. I never had a paid vacation.

But on these boards you find many people who lived entirely different working lives. Annual increases whether from the same employer or from job hopping were a given. In retirement they continue to cater to a lifestyle that demands more $$$ each year. The problem is that the employer $$$ spout has been shut off and the portfolio hasn't been able to fill the void and that just doesn't square with the lifestyle they feel they ought to live.

So, like those individuals who had trouble making $750 rent payments but through creative financing were able to obtain $0 down $400,000 mortgages, some retirees believe they not only can ignore but have to ignore certain financial caveats in an effort to squeeze increased income annually from portfolios incapable of safely providing that income growth.

When common sense prevails and they learn to live within and below their means they will realize that Roberta is right on.

 
Billym