[1Old Pro]

If we start retirement at a market high and initial returns are lower than average, it will accelerate the decline. If you can afford to retire nearer a market low, you will probably have a smoother ride.

Ah, the old sequence of returns issue. How can one tell when the market at a high or a low?

[pgyanke]

How can one tell when the market at a high or a low?

Valuations above average vs below. Generally, we all have a sense of a late cycle market, like now... can continue to grow but will boost valuations in doing so and increase risks. On the flip side, having what you need coming out of the next recession would be a sweet spot.