In developed countries simple jobs are plentiful, recession or not. I can't imagine having any difficulties finding 1-1.5x min. wage job at any time. In fact, I quit a job I hated at the end of 2008 and found a new one quickly without even trying very hard. If your 'core' expenses are in the region of 0,5 - 1 JAFI, you can cover that with a part-time minimum wage job. Also, most people have a cash buffer to last a couple of years precisely in case something like that happens.ertyu wrote: ↑Sun Jan 05, 2020 7:28 amwhy are you guys so cavalier, I can't fathom it. So when unemployment is at a historical high and people are getting laid off left and right, you're gonna go find a job? With your CV gap? Sometimes I wonder if people here actually remember what a proper, actual recession is like. Go ask a young person in Spain or Italy, or someone from Venesuela, or someone who lived through the transitions of the formerly planned economies. Or read the history of the great depression.
Anyway, please whoever's thinking of withdrawing 9% 'cause they'll just get a job when the market tanks - it's your life so you can blow it up if you want to, but please don't.
Comparisons to developing countries only make sense if you plan to retire in one and are inflexible enough not to consider moving away when things go south.
There are circumstances when 9% WR is perfectly fine, i.e. if your pensions kick in in less than a decade and the capital needs to only last until then and you have it invested in non-volatile assets.