I meant, if you need $50k per annum, you need approx $1.25 mil [50000/ .04], if you intend to use all the gain. But if you intend to use only about 4/7, as in your example, you need either to increase risk to gain 7%, or defer retirement till you have about $2.18 mil, living on 4/7 of the gain, or the same $50k.
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