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Similarly, the $30K in income that I hear is close to median retirement income requires at cool million dollars at current rates. I suspect that most could do better than $30K in income from that much in assets.

Last time I checked, $1,000,000 divided by $30,000 is 33.3 -- If you get 10,000 new crisp $100 bills and bury them in the backyard - you will no run out of money for over 33 years.

Now for most rational people, the idea of taking 4% our with an inflation adjustment has appeal. You have not guarantee, but there is something like a 95% probability you will never run out of money even if you live for another 50 years.

This happens to be the approach I am taking - well not totally, I am taking more like 3.5% plus an inflation factor. Early 2009 had more worries, but now I am a firm believer in the system described by William Bengen in his book "Conserving Client Portfolios During Retirement"

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