Wow, this thread fell off the tracks very early. I think that the standard recommendation to put 5 years of income into money market funds and invest the rest in a combination of 25% treasuries (bond funds or individual bonds depending on the OP's motivation level) and 75% stock funds (total market index for example). This is the simple portfolio that should provide 30 years of 4% withdrawals pre-tax. Not quite what the OP is looking for, but it's probably a reasonably safe alternative.Now trying to work this into the pre-existing portfolio is trickier. Perhaps keep some of the municipal bonds to make up the 25% in fixed income and turn the rest over into a few stock index funds (total stock, international index, REIT). Still, keeping 5 years worth of withdrawals in a money market fund (+/- a CD ladder).Of course this is easy for me to say, it's not my $3 million. If it was my money I would call Vanguard, put aside $600,000 (5 yrs x $120,000) in MMF's at several banks to get FDIC protection. Then I would invest 3/4 of the rest in VTSMX, 1/4 of the rest in VMBFX, and go enjoy my retirement. Each year I would pull an inflation adjusted $120K from accumulated dividends and sale of shares as needed to replenish the MMF.For you, I would recommend considering a fee-based financial planner to help with this. The above portfolio is not truly a "relax and live like a king" kind of arrangement.Adenovir
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