When Bill Bengen originally coined the term 'Safe Withdrawal Rate' in his seminal article in 1994 Journal of Financial Planning, he made some crucial assumptions. He assumed a portfolio invested in 50% US Equities and 50% US Intermediate Bonds. He also assumed a 30-year retirement period, and he took no account of portfolio and adviser fees.
In the real world, we have to account for fees. And we are not limited to a 50/50 portfolio or a 30-year timescale.
In this short video, I show how having a different asset allocation, timescale or fee level changes sustainable withdrawal rate from a retirement income portfolio.