<prompt> Human: My parents an I immigrated from the Soviet Union in 1991, where we came as refugees with the clothes on our backs and 1 bag per member. They are 66 and 61 years old and plan to work until they die... They have around 400k in cash saved up from working middle class jobs, making a combined total of 60k a year. They told me they would only ever retire if they could earn and take off 10 of their life savings annually around 40K total. I am committed to seeing my parents letting go of the fixed belief that you must work until you die and retire into a life of leisure. Having no experience in finance, only 25 years of age, I go to you Reddit, for guidance! Help me save my parents from working themselves into the grave!  <response>: 10 is more than you can expect to earn annually. You might get there some years, but not consistently. You wouldnt be able to take more than 4-5 of principal without a major risk of running out of money. Do you parents qualify for social security? That could make up a sizable chunk of their desired 40k annual income. 