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I agree in the particular case, but was making the general case for which the advice is aimed. I prefer not to increase draw rate in a down year. I keep 10 years in fixed income securities, but even that may not survive an extended downturn in which there are insufficient up years to replensish the reserve. You can always make a worst case in which no plan works. So what do you say; it's a conundrum? I say 5 years is better than none; 10 years is better than 5. In most cases, I suppose such a buffer will ride you through.

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