You are correct, there is a change in attitude which is disconcerting but is necessary.robindbee wrote: ↑Sun Oct 06, 2019 4:23 pmThanks for responses: That is one thing I was thinking. I have a fair amount of dividend funds reinvesting and with my SS starting next month it should help. By 'other' money, I meant I sold some taxable money that hadn't been doing great (plan to harvest losses) and my adult daughter is living with me for time being so expenses are split and low. I really haven't had to dip into savings too much yet, and what I have drawn out has been profit. My expenses are pretty low. Another fear I have is that when I start paying myself, instead of using money (and travel is factored in, something I want to do more of) I will just begin penny pinching and trying to save again, which i know is crazy, but I am so used to saving and watching funds grow! It's a real shift from accumulating, to drawing down, isn't it?sport wrote: ↑Sun Oct 06, 2019 3:45 pm
If you have a taxable account, you should discontinue any reinvestments of distributions. Having such distributions sent to your checking account (or MM fund) will provide some "painless" withdrawals for living expenses."
When I retired, I changed the dividends and capital gains distributions of the taxable accounts to cash, rather than reinvesting."
Having this cash flow, plus pension and (soon) SS, means that little principal is being drawn down from taxable accounts. And nothing from IRAs yet.
Think of it this way. You saved all those years, so that you could enjoy a retirement free of money worries. You are supposed to spend now on travel and other things that you enjoy.