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Here, several retirement withdrawal strategies are analyzed. The base case: a fixed real withdrawal rate starting at 3.7 percent to ensure a 90 percent success rate over 30 years. Four flexible withdrawal methods were tested:

• Forgoing inflation adjustments after portfolio losses: Slightly increases your lifetime spending by skipping inflation adjustments following market declines but reduces long-term spending potential due to compounding cuts
• Required Minimum Distributions (RMDs): Withdrawals are based on remaining portfolio value and life expectancy, ensuring no depletion but creating significant cash flow volatility
• Guardrails Method: Adjusts withdrawals based on portfolio performance, offering high starting rates and lifetime spending but with moderate volatility
• Spending declines aligned with retiree behavior: Assumes annual inflation-adjusted spending reductions, leading to the lowest lifetime spending but preserving more assets for a legacy

Key Takeaways: Your choice of withdrawal strategy goes beyond the four listed here, and most importantly, it will depend on your goals—whether that’s maximizing income, prioritizing stable cash flows, or preserving assets for your heirs.