What is Your Financial Situation?

[TuborgP]

Originally Posted by highcotton

Everything is relative - relative to something. That 'something' in this poll is only [very] loosely defined. Usually people define their own financial status based on how they compare relative to someone (an individual) else's personal financial standing, or how they compare relative to a larger group of people.

As for retirees responding to this poll, it's one thing to live in retirement to a lesser degree than you would desire, yet be able to pay all your bills, eat healthy, etc., etc. It's quite anothing thing for a retiree to be able to live life in any style they wish and watch their assets continue to grow, instead of diminish. In other words, never coming close to touching (reducing) their principal asset amount for income...and their assets (net worth) continues to grow throughout retirement. If this can be achieved [even] when investment return rates are in the ~1% range, one's financial standing doesn't get any better than this. And this is the absolute ultimate retirement financial standing in my opinion.

Remember with pensions and SS and depending on life span that is achievable for folks. That is part of the uncertainty I am referring to. Means testing can be a wrench that requires draw down. You are right about it being relative and hard to self select in many cases.