I think saving for perpetuity is a good idea. Lots of endowment money lives for centuries in these institutions, spitting off gains- it would be selfish of a p

I think saving for perpetuity is a good idea. Lots of endowment money lives for centuries in these institutions, spitting off gains- it would be selfish of a particular generation to draw this fund down excessively. Considering long-term real rates of return on a diversified portfolio, a 4% annual withdrawal rate (the "4% rule") is advocated for most retirees- and they only have to make their nest egg last 30 years. What sort of signal would that give to charitable givers to the university when it decides to start taking 8% per year, and seeing the money exponentially decay? I'm in no position to donate a large amount to a university, but if I were I would imagine that I would like to see it live on, not wither on the vine.