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>> A downturn when you've achieved FIRE with adequate savings means... nothing at all. That 4% safe withdrawl rate is conservative for a reason -- its almost impossible to exhaust your savings in any conditions we've ever observed. <<

True, but as always, you have to be able to tune out emotions that make you make bad investment decisions from fear or greed. In this case, I've heard plenty of people believing that "this time it's different" and that 4% will fail -- the assumption presumably being that the carnage will be worse than it was if they retired in 1929.

Fear, like greed, is a portfolio-killer. The idea behind many of these strategies -- withdrawal rates, asset allocations, rebalancing, all that -- is largely to take the emotion out of it.

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