Secure your minimum income requirements and grow the rest.
If for instance you have a pension of $15K, live in your own home that's worth $300K that you might otherwise have had to pay $15K/year to rent, and can live off $30K disposable income then :
Initially allocate $150K out of $450K invested in a ten year TIPS ladder with a view to drawing that down over 10 years ($15K/year) $300K remainder invested in stocks on a growth basis (reinvest dividends).
After 10 years if the stocks have grown by 50% in inflation adjusted terms (around 4.1% annualised real) you'll have the equivalent of $450K in stocks (in inflation adjusted terms), but have drawn down bonds to zero.
Reset/repeat for another 10 years ....
With $15K/year bond drawdown, another $15K of imputed rent from your home value, and another $15K of pension, that's like having a $45K/year net wage, but spending a third of that on renting a roof over your head (home). Income being sourced from a pension and drawdown of TIPS is safe against inflation and consistent/stable (assuming a inflation linked pension).
The main risk is longevity (stocks not having grown adequately enough after 10 years). But equally they might grow quicker than the target 4.1% annualised real rate (its not impossible for stocks to gain 50% in inflation adjusted terms in a single year or two).
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