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> That depends on how long you want the money to last, how much you wish to pass on to heirs, and what you expect the long term inflation rate to be.

I don't plan to leave much to my heirs, but I do plan to have capital expenditures in terms of significant charitable contributions during my lifetime of 100 years.

Another way to ask this is, what is the amount I need to set aside to guarantee the $50K adjusted for inflation over the lifetime, so that the rest of the money is essentially "free" to use for other things (and will be set aside purely for capital appreciation till those opportunities to use it become available).

And specifically how can I invest that amount set aside for income, to provide a regular and fairly stable income, with the least amount of emotional involvement.

As far as inflation rate goes, my guess is as good as yours, 4.5% is a reasonable number.
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