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Originally Posted by kumquat
While accumulating, I guess, if total spending + savings < income, you are LYBM.
What is an ER's means? 4% of portfoio? 5? Higher? Lower? What if you plan to spend 7% of portfoolio for x years and then cut back?
While I'm below today, when I ER shortly what will I be?
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I have a slightly different view of this. You don't specify how MUCH savings. I don't know that I have an exact answer...but to me anyone who is saving 1% and fits your equation above is not living within their means. You must save more than 1% to live AFTER you retire. But once you determine the number that's right for your situation...then I agree with you.
On your second point, all the research I've read says an INITIAL w/d rate of 4% or so will virtually guarantee you'll never run out of money. However, I agree that I will tend to spend less in the later stages of life (after adjusting for inflation), so I'm thinking about a 7% rate the first 5 years or so, then ratchet that back as needed.
The other strategy is one I'll call "adaptive" living. You start with a base amount you will w/d, then adjust it the next year depending on how your portfolio does. This will only work if you have some non-essentials in your budget...but we definitely have that. So if the market is down one year, we take a cheaper vacation. 
Dave
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