Unless I'm overlooking something, I don't think it matters what your initial draw rate is for a short period of time, assuming you can realistically get back to a 4% draw rate once Social Security, pension or other sources of income kick in. For example, I have $1 million dollars and I pull $60,000 (or 6%) at age 60. Then I do the same, or increase, the w/d for inflation at 61, 62, etc until age 66 when Social Security starts. Now let's say I only have $600,000 left at age 66 but I still need $60,000 but Soc Sec covers $36,000 so I only need $24,000 (4% of $600,000) from the portfolio I think that still works. I don't think it's any different than retiring at at 66 with $600,000 and applying for Social Security immediately. I've been thinking about this issue lately as well, so if someone can catch a flaw in my thinking please jump on it.
I think that will work if you think of it as a target of $600k to fund $24k/yr starting at age 66.
Then you need to have 6 years of expenses ($400k) in low risk places place such as CD's, I-Bonds, short term bond funds, munis etc. to RE at 60.
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