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I see the 4% tossed around a lot and understand it's fundamentals, almost. Let's say you've got $1M 4% is $40k. Does that mean I'll take $40k (increased a bit by inflation) each year? Or does that mean I get 4% of what's left at the end of each year? Or something else? Thanks, Jim.

I'm working for a company that will become extinct within the next year. Of that I'm sure. Since I am in IT and over 50, no chance I'll ever get another job so after the unemployment runs out, I'll be looking for income from my investments. I'll still consider myself unemployed and not retired...