Similar discussion going on at Bogleheads, too. There was an article (June 07, I think) which tested the general strategy (bonds first) with results strongly supporting that approach. It is also what Lucia does with his buckets plan.
One issue of interest to me is that it leaves you 70 years old or more, and 100% in stocks. Normally that would be OK because your long term equity earnings would overwhelm any small short term fluctuations at the time of withdrawal. Given the current state of the market, I wouldn't want to be in that position now.
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.
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