“Despite the good withdrawal rate, I still fear some catastrophic situation and imagine sitting on the curb as a bag lady! That, of course, requires a therapist--not a financial planner, eh?”
(This blogpost appeared four years ago, but it bears repeating.)
The above quote comes directly from a client, let’s call her Mary (not her real name) responding to an article I emailed her about the 4% withdrawal rule in retirement.