Set forth below is the text of a comment that I recently posted to the discussion thread for another blog entry at this site:
You can spend what you have on your statement. You can’t spend what you don’t have (like a $500 million fantasy scenario).
I wouldn’t feel comfortable counting on money that is only irrational exuberance when doing my retirement planning. To me, that’s like counting on a feeling that you have when you are drunk that you can run red lights and not get hurt. The red lights are there for a reason. Shiller’s Nobel-prize-winning research is there for a reason.
Rob
I wouldn’t feel comfortable using a timing scheme that has no successful outcome. I would not feel comfortable not having a retirement nest egg in my 60’s. I would not feel comfortable relying on some kind of fantasy windfall payment to rescue my failed retirement.
Then you shouldn’t do those things.
Where you go seriously off track is in blocking millions of others who would like to hear both sides of the story and then make their own decisions re what they are comfortable doing.
That’s my sincere take, Anonymous.
My best and warmest wishes to you and yours.
Rob