I only get interest on my savings account currently at 1.15% I agree with your approach to retirement-ie live off the portfolio yield. This reduces the chance of running out of money (almost to zero I think). Also don't have to decide what to sell etc. Blue chip equities paying divs around 3% currently look pretty good to me. Especially if you have a pension to assume the role of fixed income. May result in quite a legacy but I can always adjust to that later.
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