I'm floating around 50/45/5 and planning to keep it pretty close to that. Monthly investments are going to equities and bonds every other month. My bonds are mostly long munis with coupons yielding in total about 5.7% of the bond portion of my AA. That is equivalent to about a 10.4% pre-tax yield for now as I am still w*rking. Current estimates put me at being able to live on less than the bond interest, reinvesting the rest, as well as reinvesting the dividends from the equity side. Much of the equity divvies will go into more long munis to add enough cash flow to cover for inflation. Of course in 10% inflation came along, I would have a problem...but if equities inflate at the same time I would just re-balance into more bonds. If not, I would add the divvies to my cash flow for expenses as necessary. We're talking about a very long timeframe here though. So, provided I continue to w*rk as long as megacr@ p is telling me it wants me to work (3 1/2 years), or as long as it takes to get me to the above mentioned position of being able to live off the bond interest alone while reinvesting the leftovers and the divvies (about 1.5-2 years) then I think I'll be OK.
All of this said, as of 2 years ago I was hoping to pull the plug next month. That's not happening for a variety of reasons (including the market, but also including not having my replacement ready, and other reasons). I also note that if push came to shove, I am FI enough to go today, if that became necessary. I'd like a little more cushion though.
R