No. of Recommendations: 17
Just one person's real life example...

First, after I retired 13 years ago at 62, I soon found out that I did not need as much to live on as most opinions/examples led me to believe. So I began living on my pension and social security.

Then, my withdrawals were not based on any percentage, they were based on what type of vacations/trips I wanted to take. My investments were/are probably in the 60/40 stock to bond/cash range.

Then after you pass 70 1/2, you have a bit less control over the withdrawal percentage since Uncle Fingers tells you how much you need to take with the RMD (depending on where your investments are).

This scenario is based on not having any large debt; mortgage or otherwise.

Sometimes I think a lot of this is over-analyzed. I did go through a lot of this including how much insurance I needed, what kind of returns I needed, etc. I'm not sure how much of a difference it would have made if the numbers were altered slightly.

I've been blessed and had a good life. You can't predict illness, death, coronaviruses, etc.
Do what let's you sleep at night.
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