Glossary
Drawdown / decumulation
The phase after you stop saving, when you fund life by drawing income from or selling down your portfolio — the opposite of the accumulation years. (Confusingly, "drawdown" can also mean a market's fall from its peak.)
What it means for you
See it in numbersThe First Bad Decade Two identical futures in a different order: why the first ten years, not the average, decide whether the money lasts.Getting to your number rewards saving and growth; living off it rewards withdrawing steadily without running dry.
Every term, in plain English, on one page — the full glossary. Education, not advice.
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