41. What to do when the market crashes

In this episode of the Aussie FIRE podcast, Dave and Hayden discuss strategies for surviving market crashes, focusing on personal experiences and practical advice for both accumulators and retirees. They explore the emotional challenges of market downturns, the importance of maintaining a long-term perspective, and the potential pitfalls of trying to time the market. The hosts also delve into the psychological aspects of investing, the impact of news consumption, and the benefits of automatic investing, while also addressing the unique considerations for those living off their portfolios, including the role of cash buffers, spending flexibility, and alternative income sources.