Most universities and large charitable foundations limit their endowement withdrawals to 4%-5% of assets per yearPlaying the Devil's Advocate for a few seconds here, the counterargument is that large institutions can't reasonably expect to outperform the S&P 500 or dodge market drops. Even with someone exceptional at the helm, big funds have inertia.The Motley Fool ads for their newsletters have been repeating Buffet's comment about making 50% CAGR if he was dealing with smaller amounts, pumping it for all it's worth. Maybe so, but somehow I don't think reading a TMF newsletter will turn you into Warren Buffet.Maybe smart guys can outperform the S&P 500 consistently. I like to think I have a shot at it, for example. Maybe BMW's approach is really sure-fire.But 10% withdrawal? I think you need to be Buffet or really lucky to have that work for 30+ years. BMW says he did well with his mother's retirement funds through 2000-2003, but will the approach never stumble right after retirement? - Gus
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