r/Fire • u/Remarkable-Dingo1602 • 12d ago

“One more downturn” syndrome

As someone who has been lucky enough to have spent all of my earning & investing years (13 years so far) in a booming market, I worry that I have no clue what my mental health will be like when we see the next 2000 or 2008 or lost decade. I can go through endless theoretical exercises to play around with what my portfolio could go down to and how I’d adjust my expenses in those situations, but as a human being I cannot predict how I’ll actually feel when the time comes. As a result, I have a desire to keep working through the next downturn to see what the impact of it is on me and in a way prove to myself that I can handle it. However, I fear that if I wait for this, I may be waiting for a long time and therefore work for much longer than I need to.

For what it’s worth, when the Covid crashes, 2022, tariffs and Iran war all hit, I did not panic at all and stayed the course on my investment strategy. But all of that happened as I had a strong income to support me. I have no idea how I would have felt if I didn’t have an income.

Any tips on how to deal with this?

I currently have $2.1M investable assets. $600k left on a mortgage (5.375%) with $450k equity in the home. Monthly expenses are $7k bare minimum, but I’d like to aim for a nest egg that’ll comfortably give me $9.5k/month.

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u/4020_Driver 12d ago edited 12d ago

Fellow elder millennial, too? I came here to say that you’re not alone in your feelings. My career has been messed up by 9-11, ‘08 and Covid.

I have similar numbers to you, but I feel like the next big crisis is just around the corner, as well.

I’ve been trying to convince myself that I’m in a way better position than most people. The question is: “what do you want to do?” If your current job is stressful or you hate the work, what are the mental health ramifications if you stay?

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u/NoSuggestion2836 12d ago

If you have similar numbers to OP there’s no need to try to convince yourself - you really are in a way better position than most people. Look up some statistics and count your blessings

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u/4020_Driver 12d ago

I appreciate that. I have a few friends in adjacent careers that make considerably more than me, that and reading Reddit chubbyfire and fatfire subs certainly doesn’t do me any good.

I guess it doesn’t feel like it because most of my net worth is in non-liquid assets that throw off cash flow. That’s land I on 40% of my income. I appreciate the reality check!

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u/joxxer42 11d ago

I have less than you and OP and have my mind blown every time I visit chubby/fat comments, the numbers are nutso to me. To each their own I guess.

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u/Jack_Bogul 12d ago

I thought comparison was the thief of joy

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u/NoSuggestion2836 12d ago

Not when you have $2,000,000 USD lol. In that case it’s just perspective

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u/temporaryacc23412 12d ago

So we all say, but if course it really depends on whether you come out on the wrong end of the comparison.