Sequence-of-returns risk
The danger that a run of poor returns early in retirement does lasting damage, because you are selling investments while prices are low. The same average return can leave you fine or broke depending on the order the years arrive.
It is why the first few years after you stop working are the most fragile, and why a cash buffer helps.
I retired into two drops — 2022 and spring 2025 — and did nothing different: lived on the cash, sold smaller pieces until it recovered. No headaches, no stress. That's what the buffer is for.
Every term, in plain English, on one page — the full glossary. Education, not advice.
Bring me a challenge.
The Exit Audit, then ninety minutes: a straight verdict, real alternatives with their pros and cons, and your first move. If you want someone to nod along, I’m the wrong person to pay.
Ninety minutes, online, €600 — the Exit Audit included.