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The answer is 'it depends'.
There are so many variables that there's no simple answer. Where is your money? Real estate, money market, maybe a business? When will you divest? How old are you, what's your life expectancy? What's your plan for your last five years? Live in your current home, downsize, assisted living? Do you want to drain your savings, or leave something for your surviving family? When do you want to disperse your 'excess' funds? And on and on...
Anyone that throws X% numbers around as a 'rule' is just talking. Talk is cheap.
Build a spreadsheet. Work YOUR numbers.
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"A machine you build yourself is a vote for a different way of life. There are things you have to earn with your hands."
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