No. of Recommendations: 2
{{ The 2000 retiree, I agree. No way I would have continued to withdraw that much after a 70% drawdown. Who would? Only folks that absolutely had to. }}
Even wealthy people who could afford to spend cut back during stock market declines.
I actually more than doubled my spending during the 2008-2012 downturn when international travel, cruises, hotels, etc. went on sale due to lack of demand. Of the 12 or so cruises I took during that period, a 7-day Adriatic Sea cruise from Venice on Royal Caribbean for less than $500 was the highlight. It was almost cheaper than staying home.
When cruise and airline prices returned to more normal levels, I found I had less of an appetite for international travel.
intercst
