IF you have perfect timing you would run out of principal at the time of your death. Since that is highly unlikely, The question then becomes do you mind running out of principal before you die or would you rather have some principal left after you die? Take your pick. I will spend earnings and principal as if i will I’ve to age 90. I will most likely die well before then and therefore leave some principal. If I live longer? Then I run out of money and join the 90% of my countrymen who I had previously been supporting.
There is no reason not to spend the principal except for a desire to leave it behind.
I agree. I think the ideal plan is that the last check to clear on my account is to bury me. My kids have enough of their own reserves. I work and earn as much as I did 10 years ago. I plan to re-retire in 3 years at age 80. I figure I’ll take the $1.4 million I have in assets down to zero in 20 years, but likely won’t live that long. My wife is the same age and will no doubt survive. She’ll spend what I leave behind or give it away. That’s our plan.
Life is still good.