Currently I'm taking out 3%--I'm 60 and DW just retired (4 yrs younger). When my ideal parttime online gig runs out next September, we plan to take out between 5-6.5% (worst case if we hit a market crash) in 2021-2023. IN '24 I'll take SS and the withdrawal will reduce to somewhere between 3.5-4.5% (probably). In '28 with DW at full SS age, that chokes back probably between 2.7%-4%, likely near the midpoint, although this is 30-40% more than we currently spend, at what seems generous spending levels, with a lot of travel and a new Silverado bought last year. I'll probably roll unneeded/unspent funds to a Roth + gifts to the DSs and grandbaby for education. Currently, I'm stashing unspent funds to a brokerage account with mainly CEF munis and bond funds, with a smaller dash of stock ETFs. I'll draw dividends/capital gains from it partly in '21-'24.
Intellectually, I'm fine with a 4.5-5% withdrawal rate right now (and probably ad infinitum) since planned withdrawals down the line are about 50% more than needed expenses. Actually spending planned withdrawals is another matter. The key here on the withdrawal rate is the slack for travel and other expenses that easily can be cut back (and we're sending monthly money to my mother, which at some point will end--she's 86--hopefully not soon.) It's like a theoretical variable withdrawal rate. Some here use a "kitty" for unspent withdrawals which is similar to what we are planning and doing.
Obviously, what I'm doing/planning is in part an attempt to anticipate/somewhat lessen AMDs, which when we both are 70 could be quite intimidating, particularly in an extended bull market, which I don't expect but which could happen. It's a first world problem, which doesn't concern me much, actually.
