Sequence of returns
The order of good and bad years matters, not only their average. A fall just after retiring does more harm than the same fall ten years later, because withdrawals lock the losses in.
L3Level 3 of 3 · no narrower concepts
What it rests on, and what rests on it
It rests on
Rests on it
Nothing rests on it yet.
Where it is used
No article names it yet.
In the model
- The glossary's “Sequence-of-returns risk”
Sources
No outside work cited yet.