Thanks Duggg and Phooley,This is a "living in retirement" situation I am trying to structure.Duggg, you are right; I would avoid withdrawing funds from a tax protected account such as a rollover IRA, but I also cannot keep contributing.Phooley, yes I would keep several years worth of living expenses in fixed income vehicles. But, if I follow the 30%fixed/70%equity allocation, the 30% fixed is more than several years of living expenses, the next question is where to keep the fixed? Keep enough in the taxable account to throw off the income to live? Or keep the fixed that exceeds the several years living expenses in the tax protected account? You can see why I wanted to know (and now I do) that the tax on long-term cap gains is always going to be less than the tax on income (as I have learned here). Just trying to structure things in the optimal way!