Think about how many years of your adult life you spend accumulating enough money in order to have financial security and the lifestyle you desire when you stop working for money. You do your best, save as much as possible, live within or below your means, fund your retirement accounts, maintain a low cost, well diversified investment portfolio, and then the big day arrives, and you say adios to your job, career or business.
Suddenly, all those years of saving and accumulating come to a screeching halt and instead of being in the accumulation phase, you now move into the distribution phase with your money. On paper, theoretically, this all makes sense, right? Your nest egg now needs to last your entire lifetime. No worries, right?