Coping

It would be an understatement to say that we live in stressful times given CoVid, impeachment, and aging. But look on the bright side…religious people facing life crises rely on emotion-regulation strategies that psychologists also use. A new study concludes that both look for positive ways of thinking about hardship, a practice known to psychologists as “cognitive reappraisal.” They also tend to have confidence in their ability to cope with difficulty, a trait called “coping self-efficacy.”

Running out of money in retirement is also a common stress point, however, knowing that you have enough cash on hand to get through a severe stock market downturn can help. So how do you figure out your Withdrawal War Chest? Here’s a simple calculation courtesy of a recent article in Kiplinger: Add your total cash reserves and total cash and bonds in your portfolios, then divide your total by your monthly retirement withdrawal. The withdrawal should reflect your living expenses.

Learn More:
Study: Religion, psychology share methods for reducing distress - ScienceBlog.com
Are You Going to Be OK in Retirement? 1 Easy Calculation Can Provide the Answer | Kiplinger
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