That seems simple, I guess it would be having them trust that the market would work for them. The key being not selling in a downturn. Do you back off the 4% when there is a downturn or just keep on going/ignore the downturn?
I (we, brother) have told them spend all their money it's theirs they have earned it owe us nothing, zero, zilch. They still consider it a goal to leave us an inheritance.
My Dad wants to travel, my Mom wants does not. My Mom is frugal, my Dad spends money freely. My Dad's spending stresses my Mom out.
The point of this thread was for me to able to counter argue their claim that there is no point in selling the big, expensive, stressful, constant maintenance house because "money in the bank pays nothing". I said "That's why you don't put it in the bank you put it in the stock market". To which they laughed and said "Yeah so we can watch it all disappear like everyone we know."
That is the attitude I am arguing against. My point is you don't have to keep the big, expensive, stressful, constant maintenance house that is a cash flow drain. You can rid yourself of that stress, the part time job of keeping the house up, and all the cash OUT and turn it into cash flowing IN. Then I get the bank argument > stocks are too risky arguments.