The goal of retirement is not simply having a large portfolio.
It is having enough income from your assets that you do not have to constantly sell them to fund your life.
The traditional withdrawal approach depends heavily on market performance. If you are selling assets during a downturn, those withdrawals can reduce the capital you have available for future growth.
An income-first approach starts with a different question.
How can I build assets that are designed to produce cash flow?
Real estate can generate rental income.
Private credit can generate interest.
Energy investments can generate distributions.
The objective is to build a portfolio where the assets continue producing income while the underlying capital remains invested.
That changes the conversation from how much can I withdraw to how much can my assets produce.
Is your portfolio designed primarily to grow in value, or to produce the income you want to live on?