Depending on the scheme you use for subsequent withdrawals, you may be able to succeed with a higher initial withdrawal rate. It bears emphasizing that Morningstar's 3.9% rate isn't for anyone at any point in their retirement: It's an initial withdrawal rate for someone just starting to tap a portfolio in 2026, and then planning to increase subsequent withdrawals by the previous year's inflation rate. On a 30-year retirement, Morningstar found equity allocations of 30% to 50% support a 3.9% initial withdrawal. Longer retirements lower the initial safe withdrawal rate. Calling that method the "base case," the firm also projected a safe initial rate using eight other approaches, each of which comes with its own pros and cons.