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I don't believe that his conclusion (last quote above) applies to me. I believe I can deal with portfolio volatility. I'll keep the 1% advisor fee for myself, and the high costs of an annuity, and take my chances with the 4% rule,

That's a good point, which maybe bears amplifying: The 1% fee shouldn't be compared to the 10% you imagine you're going to get long term in stocks, or the 6% you might really be getting on your stock/bond portfolio. It's a giant haircut off the 4% we believe we can safely take from that portfolio.

HOWEVER, it might be that some advisor could manage a portfolio skillfully enough during the withdrawal phase that the lack of volatility allowed a higher withdrawal rate. Could it increase it more than 25% to justify taking 1% out of the 4%? That's hard to imagine. I also don't think someone could assure that, unless he put you in an annuity which has its own downsides.
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