Stephen Knight

This actually sounds so ideal.

I'd just be like, oh, I got to sit down with my spreadsheet and I did this analysis on this.

Oh, that sounds so nice.

What did you get scared of?

I went this morning.

So one thing that I'm sure you would have thought of is that if we think about the rule of 4% or the rule of 3%, which assumes that you're drawing out, in this case, 150 grand a year, that's cool.

There is a chance that if you get a couple of bad years in a row, that that initial capital could erode and that that kind of drawdown 4% might work for a usual retirement of, for example, you know, 30 years.

Your retirement is going to be like 60 years because I think I ran the numbers.

You're 29.

You're likely to die at...

No, I ran the numbers because I actually looked at it.

94, I think it was.

92.

You've got a 50% chance of living till 92.

So you've got a 63-year retirement.

No, the good news is you've got a 25% chance of living till 96, I think.

So even longer potentially.

So my question is, how have you thought about the potential contraction in stock prices or the risk that this money doesn't actually last?

Well, let me ask you this other one.

Well, one of the other pieces of kind of standard advice for retirees is that we typically see people who are 65 and retiring moving away from shares or as many shares and introducing more income producing assets like a little bit of term deposits, more bonds, lower risk assets.