Even if you can't make it on 4% in bear markets it would encourage you to trim expenses instead of blindly raising your withdrawal every year. I went through that in the last two recessions. There's a certain amount I had to take to make ends meet but it was less than the traditional 4% SWR would have allowed. These days I try to take only 3% each year, leaving the other 1% to cover unexpected expenses or big ticket items that I only purchase occasionally. Seems to work pretty well.
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