-I'm advising my MIL' on her finances, and we're using Bengen's numbers just like you are. Because it's not my money, I feel more comfortable sticking close to the recommendations of somebody who has done some research and has some credibility. At least it it blows up, I'll have a thin reed to hide behind.
- With our own money we'll probably use Bengen's withdrawal rates as a guide. I think they may overstate safe withdrawal reates going forward, so I'll use them for our pre-SS years and then probably cut back to about .5% less. We'll also keep higher equity exposures later into the game than he recommends (at least if Social Security and the pension promises remain unbroken).
A previous post
on Bengen and the derivation of his numbers.