Thanks for sharing your thoughts Mike. If you're comfortable picking individual stocks (dividend payers or not), and have a long track record of our-performing the market (very few people can reliably achieve that), then by all means, go for it. As for diverting excess returns to other investments that are more stable and produce income, that's certainly a possible path. The idea behind the guardrail approach is to optimize your draw, so you live your best retirement. Your choice, certainly a valid one, prioritizes increasing your portfolio over optimizing your available spending. It's a matter of personal preference.