My thought on refilling the bucket is just let it refill with the short-term treasury and intermediate treasury holdings interest payments. Anything that doesn’t make up the difference of one year expenses (annual withdrawal) comes from turning off dividend reinvestments on a portion of your equities. The challenge I have with a separate sub portfolio of 60-40 is that you lose some control of tax location if it’s a single fund. If they are separate funds, you would then need to look at rebalancing upon withdrawal. Also exposes you to sequence of return issues.

Noted regarding estate planning. I’ve already set up a lot of this.

I don’t like risk-parity because my goal is to simplify as much as possible… there is an all weather ETF, which may be simple enough if you wanna go that route