What are your assumptions when planning for FI and retirement?

A key part of planning for Financial Independence is to determine the assumptions you make for the future. This is always a “moving target” as we are trying to predict the future. We can go back to past periods of time and try and use that (this is what the 4% rule was based on) but we are trying to predict an ever-changing future. This is fraught with risk.

A person’s personality (and their spouse’s personality) now “comes to the fore” here.  If they are optimistic, then the prediction is on high investment returns, low inflation, and good health. If they are pessimistic, then its low investment returns, high inflation and potential higher costs for health care. Most folks are somewhere in between – but this is a key part of the “angsts” of people trying to hit their retirement goals – and has been for many decades. The fact that folks are living longer (and thus the big problem if they guess wrong) has further caused people’s stomachs to churn.

Many people in the FI community have never lived in a high inflation era. Inflation got smacked down in the 80s, so for the last three decades, we’ve been living with 2% – 4% inflation. For those of us older (late 50s, 60s) we remember the 70s and early 80s, where inflation hit double-digits and caused a massive crunch in people’s plans for retirement. That’s why boomers typically overestimate inflation, and non-bloomers underestimate.

The same goes for investment returns. From 1968 – 1982, the stock market returned a net 0% – fourteen years! So again, boomers tend to be a little more conservative in their return predictions. Non-boomers have known some pretty sweet times for the market (and some crashes) so their predictions might be more aggressive. I’ve written before about how I think the market is way overvalued, so we may be in for a significant correction/crash in the near term.

So what are my FI assumptions?

  • Inflation -3% per year
  • Social Security increases – 2% per year (i.e. doesn’t keep pace with actual inflation)
  • Stock returns – 7.8% per year (down from historical 10%)
  • Bond returns – 3.1% per year (down from historical 4.6%)
  • Return for 60% stock/40% bond portfolio – 5.92%
  • Return after inflation – 2.92%
  • Life timeline: Live to 97 (me) and 99 (Mrs. 39 Months)

I used to be more aggressive with my investment returns, but after my meetings with our investment advisor in 2019, I dialed them back somewhat.

Based on this, our current portfolio, and taking Social Security at age 67, we could retire now and still end up with the equivalent, in 2021 dollars, of $291K at time of death. So we’re FI!

Still, the assumptions could be not pessimistic enough – and we could be hurting in our old age. We will see…..

So what are your assumptions for your calculations?

Mr. 39 Months

Performance vs. Retirement Budget for 2020

I’ve posted in the past how we went to a financial analyst near the end of 2019 to review our financial status and determine if/when we could retire early. Mrs. 39 Months didn’t completely trust my numbers and assumptions, and wanted a second opinion. While I didn’t agree with many of the assumptions of the analysis (investment returns, etc.) I still think the analysis was valuable overall, and it helped me adjust my plans. Part of the analysis was detailed income and expense information for each year, from 2020 – 2028.

Fast forward a year later, and I’ve taken the opportunity to compare our planned spend vs. our actual spending of the retirement budget. I’d encourage everyone to try their retirement budget out 1-2 years before actual retirement. So what did I find out:

Major overspending vs. budget

  • Home Maintenance was 176% higher. Some of this was due to purchases (lawnmower, pressure washer) and some of it was services that I could conceivable do if retired (vs. hiring a landscaper). Still. Something to consider
  • Electricity/Gas: 93% higher. Could have been us staying home for Covid, but we dramatcically underpriced this.
  • Groceries: 23% higher – probably because of eating more at home (see my allowance below)
  • Floor Insurance: 509% higher. Though only $430, it still is a large % change.
  • Charity: Our retirement budget is only $240, and if we have extra at end, we’d give. We gave away $6,000 last year. Felt good, especially when folks needed help for Covid

Major underspending vs budget

  • Auto Fuel: 56% lower. No commuting during Covid, but we also won’t be doing this when we retire
  • Mr. 39 Months allowance: 41% lower. A lot of this is used for food at work, so we’ll see
  • Dining Out: 54% lower – due to Covid
  • Hobbies: 49% lower – may be able to save some money here

Final result was that we spent about $11K less in 2020 than expected. In the end, I think the Covid close-down was an excellent chance for us to look at our retirement budget and do some deep analysis on it. We’ll be making changes on it going forward.

Read more

Mr. 39 Months

Drawdown Plan – Apr 2021 Update

Well, the last time I reviewed my drawdown plan was back in Oct 2018 (well before the Covid virus or our closing in on our FI number). I had previously written in 2017 at the start of my journey, and then updated in Mar 2018 (prior to our meeting with a financial advisor). Based on feedback from the advisor and some of the changes over the last year, we’ve had to update some of our assumptions. With that in mind, I thought we’d go back through the plan and lay out how we’ve hit our FI number and could (but probably won’t) retire now.

Assumptions:

  • Live expectancy for Mrs. 39 Months is 99, and I am 97 (passing away in 2061)
  • For the remainder of 2021, with Mrs. 39 Months working and my getting severance, vacation and unemployment, we can survive the remainder of 2021 without touching our investments
  • No investment gains/loses for the remainder of 2021 (so our investments on Jan 1, 2022 are where they are on Apr 1, 2021)
  • No changes in current tax code between now and beginning of 2022 (I know, that’s a huge “if”)
  • Don’t touch home equity in retirement, i.e. no reverse mortgage, geographic  arbitrage, etc. (safety bucket of money, just in case)
  • Expenses of $78,000 per year, indexed for inflation, starting in 2022
  • Will use Cobra insurance for first year out (2022) and then keep taxable income low to get the most healthcare subsidies possible till we can qualify for Medicare. Pay for Medicare Advantage after that.
  • Inflation at 3%
  • Social Security increase at 2% per year
  • Stock returns 7.8% before inflation, 4.8% after inflation (Financial Advisor convinced me to drop these below historical expectations)
  • Bond returns 3.1% before inflation, 0.1% after inflation (Financial Advisor convinced me to drop these below historical expectations)
  • 70/30 investment split returns: 6.4%, 3.4% after inflation
  • Both taking Social Security at 67 (full retirement age)

Assets

  • Savings: $175K (2+ years)
  • Roth IRA (no Tax): $501K
  • IRAs/401Ks (pre-Tax): $707K
  • Post-Tax Investments: $270K (investments which only have to pay capital gains)

My standard asset allocation with all the investments is:

  • 20% S&P500 Index
  • 20% Small Cap Index
  • 20% Foreign Stock Index
  • 20% REIT index
  • 20% Bond Index

With this, another way to look at my investments is:

  • Savings: 2+ years
  • Bonds: 4 Years
  • Stocks: 15 Years

If we had a sudden drop in the market, the plan would be to survive on the savings for the 2+ years it typically takes to get back, with 4 years of bonds/fixed assets to assist.

So year-by-year, how does this work out?

  1. Year 1 (2022)
    • Expenses: $80,340 (25,235 out of Pre-Tax and 55,105 out of Post-Tax)
    • Taxable Income: $0 (First $25,235 is offset by standard deduction, $55,105 is post-tax and if we keep our taxable income under $78K, we don’t have to pay taxes on dividends or capital gains)
    • Money remaining: $1,476K (530K Roth, 713K IRA, 232K Post Tax)
  2. Year 2 (2023)
    • Expenses: $82,750 ($25992 out of Pre-Tax and $56,758 out of investments)
    • Taxable Income: $0 (First $25,992 is offset by standard deduction. $56,758 is post-tax)
    • Money remaining: $1,480,037 (562K Roth, 729 IRA, 189 Post Tax)
  3. Year 3 (2024)
    • Expenses: $85,233 ($26,772 out of Pre-Tax,$58,461 out of investments)
    • Taxable Income: $0
    • Money remaining $1,482K(595K Roth, 744K IRA, 142K investments)
  4. Year 4 (2025)
    • Expenses: $87,790 ($27,575 out of Pre-Tax and $60,215 is post-tax)
    • Taxable income: $0
    • Money remaining $1,481K (631K Roth, 760K IRA, 91K investments)
  5. Year 5 (2026)
    • Expenses: $90,423 (28,402 out of Pre-tax, 62,021 out of investments)
    • Taxable income: $0
    • Money remaining: $1,477K (668K Roth,775K IRA, 34Kinvestments)
  6. Year 6 (2027) – Investments exhausted, have to start taking money out of Roth. Mrs. 39 Months eligible for Medicare
    • Expenses: $93,126 ($29,254 out of Pre-Tax, $35,981 investments, $27,901 out of Roth)
    • Taxable Income: $0
    • Money Remaining: $1,471K (680K Roth, 791K IRA)
  7. Year 7 (2028)
    • Expenses: $95,930 ($30,132 out of Pre-Tax, $65,798 Roth)
    • Taxable Income: $0
    • Money Remaining: $1,461K (654K Roth, 807K IRA)
  8. Year 8 (2029) – Mrs. 39 Months begins taking Social Security at 67. Mr. 39 Months eligible for Medicare
    • Expenses: $98,808 ($31,036 out of Pre-Tax, $14,249 Soc. Security, $53,524 Roth)
    • Taxable Income: $0. Income under Soc. Security limit for taxable benefits
    • Money Remaining: $1,462K (639K Roth, 823K IRA)
  9. Year 9 (2030) – Begin having to pay taxes, pretty much on Social Security $
    • Expenses: $103,493 ($31,967 out of Pre-Tax, $17,209 Soc. Security, $54,317 Roth)
    • Taxable Income: $17,209 – tax of 10% so 1,721
    • Money Remaining: $1,461K (623K Roth, 839K IRA)
  10. Year 10 (2031) – Kevin Begins taking Social Security at 67, further increasing taxable income. Won’t affect our medical as we’ve both been eligible for Medicare.
    • Expenses: $108,874 ($32,926 out of Pre-Tax, $40,485 Soc. Security, $35,463 Roth)
    • Taxable Income: $40,485 – tax of 10% so 1,721
    • Money Remaining: $1,478K (620K Roth, 855K IRA)

Years 11 – 20 (2032 – 2041) Our 70s

  • Expenses: Grow from $112,100 to $145,812. Still pull some out of IRA, some from Social Security, and some from Roth to keep taxes low.
  • Money Remaining in 2041: $1,544 ($539K Roth, $1,005K in IRAs)

Years 21-30 (2042 – 2051): Slowing down. While our expenses will probably go down, I didn’t assume that.

  • Expenses: Grow to $195,342 with inflation. Still pull some out of IRA, some from Social Security, and some from Roth to keep taxes low, but Roth almost exhausted.
  • Money Remaining in 2051: $1,224K ($127K Roth, $1,097K in IRAs)

Years 31+ (2052 – 2062): Going into our 90s. Keeping expenses in line as we wind down.

  • Expenses: Grow to $262,072 with inflation. Complete drain of Roth IRA, start sourcing entirely from Pre-Tax money from now on
  • Money Remaining in 2062: $357K in IRAs + savings + home equity

Obviously, its hard to plan out 40 years into the future, without an idea of how the world is going to look. Still, its good to know we are looking good at this point, and don’t “need” to continue to work.

More Withdrawal Strategies

Here are more retirement strategies from the PF blogger community. Some of these are much more detailed than mine. Check them out!

Anchor: Physician On Fire: Our Drawdown Plan in Early Retirement
Link 1: The Retirement Manifesto: Our Retirement Investment Drawdown Strategy
Link 2: OthalaFehu: Retirement Master Plan
Link 3: Plan.Invest.Escape: Drawdown vs. Wealth Preservation in Early Retirement
Link 4: Freedom Is Groovy: The Groovy Drawdown Strategy
Link 5: The Green Swan: The Nastiest, Hardest Problem In Finance: Decumulation
Link 6: My Curiosity Lab: Show Me The Money: My Retirement Drawdown Plan
Link 7: Cracking Retirement: Our Drawdown Strategy
Link 8: The Financial Journeyman: Early Retirement Portfolio & Plan

Link 9: Retire by 40: Our Unusual Early Retirement Withdrawal Strategy (http://retireby40.org/unusual-early-retirement-withdrawal-strategy/)

Read more

Mr. 39 months

Drawdown Strategy Analysis – using “Power of Zero”

After reading The Power of Zero  I decided to do an analysis on how effective this would be versus my current drawdown plan.  Some of the key aspects of the analysis include:

  • Withdrawal amount after taking into account taxes
  • Effect of revenue on social security
  • Effect of revenue on medical subsidies

As you remember from my review, the book breaks your funding down to three buckets:

  1. Taxable bucket (savings accounts, CDs, brokerage accounts, etc.)
  2. Tax-deferred bucket (401Ks, IRAs, etc.)
  3. Tax-Free bucket (Roth IRAs, LIRPs, etc.)

The way I chose to do my analysis is as follows:

  1. Identify specific FIRE date to start. This is controversial, in that it is committing me to “retire”, not just hit FI, but keep working
  2. Determine the amount of money I would have in each bucket at that time
  3. Estimate growth of investments while taking out inflation from growth, tax rates, etc.
  4. Determine withdrawal strategy for the two options and apply
  5. Determine a time frame for investments. I am going to assume Mrs. 39 Months and I live till we are 99/97.
  6. Determine if plan will enable us to survive

When going through our budget for retirement, I came up with a spend of $65,104/year, which included $8,892 for medical (insurance, co-pays, deductibles, etc.). Tack on $5,615 for state & local taxes, and I’m coming up with $70,719/year. For the basis of this analysis, I’m going to use $66K/year for expenses (again, I will adjust out for inflation) and $5K for taxes – bringing total to $71K. Just to be “extravagant”, I’m going to assume a spend of $84,000/year. Based on current tax rate and allowances, this would have me paying about $8,500 in taxes (Fed & State).

For investment returns, I’m going to assume 70% stocks (6.8% returns after inflation) and 30% bonds (1.6% returns after inflation) for a blended return rate of 5.24%.

At my FIRE date (21 months from now) I should have the following assets:

  1. Taxable bucket: $364,030 (including $156,689 in deferred that I will have just paid the taxes on)
  2. Tax-Deferred: $729,284
  3. Tax-Free: $294,922

So, unless being spent, the items listed will grow at 5.24%.

  • Year 2020 (6 months): Pulling $42K out of Tax-Deferred account (Pop’s IRA). Taxable, but I just got hit with a lot of taxes for my Deferred.
  • Year 2021 & 2022: Withdraw $63.5K from Taxable bucket & $6K from Pop’s IRA. Pay reduced taxes because Deferred account already paid for them in 2020
  • Year 2023: Withdraw final $45,448 from Deferred, $6K from Pop’s IRA, and $18,052 from Taxable bucket (investments). Again, paying reduced taxes because Deferred account and investments already paid, or income small enough for Cap Gains
  • Year 2024: Pull $63.5K from Investments, $6K from Pop’s IRA. Reduced Taxes
  • Year 2025: Pull Final $3K from Investments, $14K for wife’s Soc Security, and $76K from Pop’s IRA. Wife’s Soc Security pays full taxes on 85% because Pop’s IRA is treated as regular income. Since I am over the ACA limit, my medical costs jump up from $8.8K to $19.4K (ouch!)
  • Year 2026: Pull final $27K from Pop’s IRA and $14K from Soc. Security. Begin drawing down Tax Deferred IRA money ($54.5K). Again, over ACA limit, so high medical. Not taking Mr. 39 Month’s Soc Security at this time.
  • Year 2027: Mrs. 39 Months starts getting medicare, so medical costs drop to about $13.2K (overall revenue needed drops to $89,364/year). Pull $75.5K from Tax Deferred IRA and $14K from SS. Now left with $713K in Tax-Deferred and $430K in Roth IRA.
  • Year 2028-2031: Continue pulling all money from Tax-Deferred Pulling $70-$75K and $14K from Wife’s IRA. All of this is taxable. At 65, Mr. 39 Months converts to Medicare and costs drop
  • Year 2032-2045: Mr. 39 Months begins taking Soc. Security at age 67. However, I’m going to assume that, due to issues with Soc. Security, I am going to assume that I am only going to get half of what I will get (i.e. 50% cut in benefits), so that works out to $16,908/year. So, each year roughly $30K in Soc. Security and $41K from Tax-Deferred accounts. All of this is taxable.
  • Year 2046: Tax-Deferred IRA runs out of money, and have to switch to Roght IRA. At this time, Roth has about $1.02M in it, so the 5.24% return rate will cover this out till we pass away.

So based on that, my excel chart came in at roughly $1,102,346 remaining in my Roth IRA (all of which I could pass on to my heirs tax free). Not bad, though it shows that I could have taken out more and “lived a little more” in my years. In addition, I kept the $9K in medical spending stable, which might not really be accurate. This also assumes the tax rates stay the same in the years ahead (a big “if”).

Tune in next time when I take the “Power of Zero” lessons and try to do even better.

Other blogs on this topic

 

Mr. 39 Months

 

Update to draw down strategy – Mar 2018

After going through the health care analysis earlier, I (like so many others) have had to adjust my retirement plans and drawdown strategy to account for Obamacare and changes to it. Like so many others, as well, I will have to continually monitor the situation and make changes. In addition, Mrs. 39 Months looks like she wants to continue to work after we hit FI, but her job probably wouldn’t provide benefits.

The key issue is the provision for subsidies for individuals that do not make more than 4X the poverty level (the poverty level was around $16,000 for 2017). Thus, if your income, before deductions, is $64K or less, you can be eligible for subsidies. This may mean the difference between paying $1,400 a month and $600 a month for the same level of healthcare. Needless to say, if the situation remains the same, I’ll either need to make $64K, or $74K (the $10K necessary to pay the additional medical). I know many folks in the FIRE community knew this, but I thought it was $64K after deductions, not before.

Our initial budget post-retirement, was going to be about $72K, in order to pay for everything, including medical. This would provide for all bills, some travel, and $1K a month each for Mrs. 39 Months and myself in “fun money”/personal expenses. That would push us over the $64K figure. In addition, if Mrs. 39 Months works (earning around $24K), it adds a level of complexity. So how do I “square this circle?”

When we hit FI (27 months from now), we should have the following amounts.

  • Savings: $132K (can spend without having to pay taxes)
  • Deferred Income from work: $179K (when paid out, have to pay taxes on it)
  • Brokerage Account: $94K (can spend about $60K of it without paying taxes. The rest, will be taxable.
  • Inherited IRA from my father: $137K (taxable when we take it out)
  • 401K/IRAs: $546K (taxable + penalty)
  • Roth IRAs: $257K (non-taxable)
  • Total: $1,345K liquid assets
  • House: $298K (not depending on it unless absolutely necessary, i.e. no reverse mortgage)

Complications

  • Mrs. 39 Months making $24K/year. Have to start from there
  • Inherited IRA will force us to take around $6K a year
  • When I leave company, I have to start taking my deferred amount. I believe I get to stretch it over 5 years, but that still winds up as a minimum of $36K a year

As you can see, I’m already up to $60K, without the ability to alter it. How do I get to $72K of income, without going over the $64K of taxable income?

Options

  1. Use the money in my brokerage account by selling some of the stocks there. I would only have to pay for any capital gains on it. Since it looks like about 2/3 of money in it will be basis money, I could take out $12K, and it would only show as $4K of income.
  2. Use some of my Roth IRA money, which is not taxable, to make up for the shortage. Even though I would only be 56 when I hit FIRE, I can still withdraw the money I put in, tax free. However, I am loathe to do this.
  3. Get myself a side gig/part time job to keep myself from going crazy from retirement boredom and pay for the additional medical costs. We will have to see about that.

What is my current plan? I’m going to plan for option 1, and if I get really bored in retirement, I’ll probably shoot for #3, with the understanding that I will be working half of my time just to pay for medical. Like so many others in the US, medical is driving the train!

Of course, all this could change over the next 27 months as we move forward.

So, any changes to your drawdown plans, folks?

 

 

Mr 39 Months
 

Mr. 39 Months “Drawdown” plan

May 2, 2018

Updated drawdown plan from Oct 2018, based on “Power of Zero” analysis

Okay, as I get more information, I continually have to look at adjusting my draw down plan – even as I hit 26 months to go. If you remember from my previous draw down update, the desire of Mrs. 39 Months to continue working, combined with the $64K limit to income for maintaining health subsidies had put me in a bit of a quandary. How do I match my spending to the need for health care? Spend too much, and I end up needing an additional $12K a year.

Well, I got a bid of a surprise with one of my company retirement accounts a week ago, which meant that I would be paying a large lump sum when I left the company (instead of being able to draw it out over time). However, this meant that the remaining funds were “post tax” and thus could be used without endangering me going over the $64K limit. Sweet!

So, based on that, updates on my current investments and plans for deposits over next 26 months, here is what I am looking at:

  • Savings: $132K (can spend without having to pay taxes)
  • Deferred Income from work: $156K (after taxes withdrawn – don’t have to pay taxes on it)
  • Brokerage Account: $87K (can spend about $60K of it without paying taxes. The rest will be taxable.
  • Inherited IRA from my father: $137K (taxable when we take it out)
  • 401K/IRAs: $613K (taxable + penalty)
  • Roth IRAs: $298K (non-taxable)
  • Total: $1,445K liquid assets (350K with no tax)
  • House: $298K (not depending on it unless absolutely necessary, i.e. no reverse mortgage
  • Expected expenses $54K + Mrs. 39 Months spending (assuming equivalent of her take home pay). This assumes having a taxable income below $64K, and thus keeping the subsidies

As you can see, I’m actually in pretty good shape. Current plan:

  • For first 6 months, pay for medical with Cobra and take $18K from Deferred (tax free) and mandatory $9K from inherited IRA
  • For each year following, Take $12K from inherited IRA each year, and pay very little tax on it. Should last for 10+ years (till I hit 67)
  • Take $42K from Deferred/post –tax. Should last at least three years (till I’m 60)
  • Move to my investment account. Should last for at least two years with limited taxes (Gets me to 62 and Mrs. 39 Months to 64). At this point, I’m assuming Mrs. 39 Months wants to stop working, so we bump up expenses to $72K a year
  • Draw down 401K at $72K a year. This should last us for 16+ years.
  • At that point, switch to Roth IRA, which has been growing for 20+ years without getting tapped, so it should have over $800K. This should last us for the rest of our lives.
  • Never touch the savings account/emergency fund, or the home value (these are our backups).

Note: all growth, expense and investments assume a 3% inflation rate.

Overall, I’m more confident now that I was a couple of months ago (even with the market not going anywhere). I could conceivably take a few months off my count and go earlier, but I don’t want to do that just yet.

How have your plans changed?

Kevin

Original Draw Down Plan: June 2017

Several FIRE-related blogs (see below) have started a blog chain on how they are/plan to draw down their savings over their retirement. There are an infinite number of ways to do this, and a lot of its based on your own particular issues/resources.

It’s a topic that isn’t covered very much, and when I stumbled onto it today, I read just about every link I could.

I thought I’d join the chain and list my plan.

Expected resources at time of retirement (July 2020)

  • Savings: $132K
  • Deferred Income from work: $179K**
  • Brokerage Account: $94K
  • Inherited IRA from my father: $137K
  • 401K/IRAs: $546K
  • Roth IRAs: $257K
  • Total: $1,345K liquid assets
  • House: $298K (not depending on it unless absolutely necessary, i.e. no reverse mortgage)

** My company allows you to “defer” income from work (i.e. don’t get paid it) until a later date, up to a certain percentage. Once you leave the company, you can take it as a lump sum or as regular monthly payments over a 5 year span. You pay taxes on it as you are paid it. In the meantime, you can invest it just like a 401K

The plan

Plan is to take out $72,000 a year/$6,000 a month. We will draw this back the equivalent when we start taking social security in 2024 (Mrs. 39 months) and 2031 (Mr. 39 months). I’ve used the FireCalc to determine that, even without social security, we have over a 90% chance to go till 95, so Social Security is a bonus here.

  1. Year 0: Setup savings as base of 2X annual salary. Plus that up at the beginning of each year from investment accounts.
  2. Year 1-3: Use Deferred income to pay for withdrawals till exhausted. Note that I still have to take a portion of my father’s inherited IRA ($5K a year)
  3. Year 4-5:  Draw down brokerage account to 0. It is here that we could start getting Social Security for Mrs. 39 months
  4. Year 6-8: Draw down my father’s IRA to 0 while continuing (if possible) to get SS for Mrs. 39 months
  5. Year 9 – 25: Draw down 401K/IRA to 0. It is here that we would finally start taking Mr. 39 months social security
  6. Year 26+: Still plenty of money left over in the Roth IRA to last us, plus we have the 2X money in savings and the house, so it should enable us to be OK.

Overall, we could retire right now if I had confidence that Social Security (or at least 75% of Social Security ) would be there for us. I just don’t know, so I intend to work till July 2020 (Independence day!) to make sure we will be OK no matter what.

More Withdrawal Strategies

Here are more retirement strategies from the PF blogger community. Some of these are much more detailed than mine. Check them out!

Anchor: Physician On Fire: Our Drawdown Plan in Early Retirement
Link 1: The Retirement Manifesto: Our Retirement Investment Drawdown Strategy
Link 2: OthalaFehu: Retirement Master Plan
Link 3: Plan.Invest.Escape: Drawdown vs. Wealth Preservation in Early Retirement
Link 4: Freedom Is Groovy: The Groovy Drawdown Strategy
Link 5: The Green Swan: The Nastiest, Hardest Problem In Finance: Decumulation
Link 6: My Curiosity Lab: Show Me The Money: My Retirement Drawdown Plan
Link 7: Cracking Retirement: Our Drawdown Strategy
Link 8: The Financial Journeyman: Early Retirement Portfolio & Plan

Link 9: Retire by 40: Our Unusual Early Retirement Withdrawal Strategy

Mr. 39 months