The 4% rules dictates that, given historical market returns, we can't afford to withdraw more than that amount from our retirement portfolio after age 65 when we, presumably, stop contributing to it. From what I understand, this is before fees, and other related costs. On that basis, does it make sense that we should be paying more than half of our potential retirement income to the mutual fund industry in the form of management expenses? Whose money is it, anyway? I plan on withdrawing more than 4% from my retirement portfolio. Given the high fees relative to performance, I won't be parking my funds for retirement in any mutual fund!