After 6 1/2 years of retirement, we still don't know what we need to live on! It varies annually depending on any major purchases, the amount of travel etc.
We've always lived within or even below our means and continue to do so in retirement. The big difference makers for us are no mortgage, no car payments and no debt. We've been using a good financial planner for 3 1/2 years and survived the recession in pretty good shape.
I agree the 4% per year withdrawal limit is a good starting point.
Good luck...
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