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Also, isn't setting a reasonable withdrawal rate the same as "manage cash flow carefully"? Or is there some more specific actions needed?

You need to set up a spreadsheet. During the first few years, your high yielding portfolio will generate more income than needed. After about a decade, the growth portfolio will be yielding enough.

But in the middle years, there is a dip. You need some money from the early years to fill in the void.

Have fun.

John Walter Russell
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