Guyton-Klinger withdrawal model

MetaPhysical

The fact is that no withdrawal strategy can survive an extended crash early in retirement if you need to draw upon the funds for several years when the market is down.  GK is one approach to minimise the damage that such a crash could induce but it can't perform miracles.  All strategies will fail given extended crashes.  This is why having available cash is important too.  Personally, I want a buffer of three or four years of cash as a buffer to protect me from a major and extended market crash in my DC fund in the early years so I can let the fund recover.  I also have DB pensions to help me.

Hoenir

RogerPensionGuy said:

My glass half empty view is stock markets will be negatively different to the last 100 years. 

There's a book that covers this generational perception well. "This Time Is Different. Eight Centuries of Financial Folly by Carmen M. Reinhart & Kenneth".  You can learn much from reading history.