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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.
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