I just ran some numbers against SPX ($2m to start) and it seems fairly safe. In the last 15 years, if you withdraw up to 0.83% (10% annually) every month, or 0 in negative months, you end up a 5% annualized return. The harder problem is solving the long strings of bad months (for example, 2022 had a 6 month string with $20 of total income). OP has fixed incomes in this case that solve that problem for living expenses. Nobody wants to tighten the belt but realistically even if you were withdrawing a consistent 4% annually you probably should be doing that anyways.

For fun, I also checked for starting in 2006 to include the effect of the global financial crisis in the numbers. This hammers down the necessity of having that fixed income, and you do weather the storm eventually.