Tightening the screws and plan to keep the training wheels on for 2022 so I can get my sea legs. I'm 57 (as is DW) and have been down shifting my business since 55 by design. My business has been in a cycle where it has been extremely lucrative despite my reduction in hours of 5 - 10 hours a week (Cinderella is way overdue to turn into a pumpkin). Despite this, I continue just cherry pick a few clients and expect 2022 to be the first year I take some kind of withdrawal. No pensions, but I have been fortunate to accumulate a nice nest egg which will fund my desired FAT FIRE spend(highly discretionary, 2.5% or less WR) Until further notice, I plan on staying with a 60/40 AA. I also plan on doing significant annual Roth conversions annually until age 72 (24% bracket). Where I scratch my head is how much cash to keep on hand at the beginning of each year? Roth conversions aside, I think I'm fine keeping 1 yrs planned spend in cash, looking at quarterly returns and replenishing IF markets are up from stocks, but IF NOT, ride out cash and address at rebalance at end of year. So, assuming Roth conversions annually, should I hold additional cash for anticipated additional taxes at beginning of year or just make strategic trades at end of year? Candidly, the whole Roth conversion exercise until 72 makes my head spin, but I have bought into the the value of doing them.