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An overspending account sounds like a good idea. I plan to keep 3 years living expenses in cash and not include it in the withdrawal rate calculation. This allows me to limit my withdrawals to times when the market is up and let it ride for a couple of years if necessary.

I think the most vulnerable time is the first 3 to 5 years of retirement. If the market holds up then the increase should make the safe withdrawal rate above what is needed. I hoping my 3 year 'slush fund' will serve as insurance against a crash immediately after I retire. I would hate to have to go back to work!
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