This is a common mistake and doesn't account for sequence risk. While it is true that the long run, inflation adjusted, DRIP average is about 7%, over the short

This is a common mistake and doesn't account for sequence risk. While it is true that the long run, inflation adjusted, DRIP average is about 7%, over the short run, those returns are not guaranteed and a few bad years can break your retirement. A much safer withdrawal rate is 3-4% with some inflation adjusted caps and floors so that in good years you grow your investments and in bad years you maintain a certain level of lifestyle.