{"id":4342,"date":"2023-07-20T09:22:53","date_gmt":"2023-07-20T03:52:53","guid":{"rendered":"https:\/\/dushyantnomics.com\/?p=4342"},"modified":"2023-07-20T09:22:56","modified_gmt":"2023-07-20T03:52:56","slug":"known-unknowns-early-retirement","status":"publish","type":"post","link":"https:\/\/dushyantnomics.com\/known-unknowns-early-retirement\/","title":{"rendered":"Known Unknowns of Early Retirement Planning"},"content":{"rendered":"\n
What does a complex sounding concept like known unknowns of early retirement planning mean?<\/p>\n\n\n\n
Let us dig right in to understand this.<\/p>\n\n\n\n
It is hard to correctly predict how financial markets will perform over the next 10-20 years.<\/p>\n\n\n\n
Several things will impact future inflation & investment returns that we don\u2019t even know about today.<\/p>\n\n\n\n
For example, a future pandemic, a natural disaster, or some major political event could upend the financial markets.<\/p>\n\n\n\n
We can neither easily predict nor control these things that can impact financial markets.<\/p>\n\n\n\n
These events are the so-called unknown unknowns.<\/p>\n\n\n\n
On the other hand, there are some factors in your life that can be categorised as the known unknowns.<\/p>\n\n\n\n
These are the big life decisions that you know you will have to make at some point in the future.<\/p>\n\n\n\n
You have a degree of control over these decisions.<\/p>\n\n\n\n
These decisions will impact your early retirement plan, but you can\u2019t predict in advance how they will pan out.<\/p>\n\n\n\n
It all depends on the choices you make when you reach the decision-making stage.<\/p>\n\n\n\n
These are the so-called known unknowns of early retirement planning.<\/p>\n\n\n\n
There 3 major known unknowns of early retirement planning are decisions about your financial dependents, marriage, and kids.<\/p>\n\n\n\n