The fight between a coupon bond and a zero-coupon one isn't settled by watching interest rates. It's settled by a question about you: will the money this bond produces go back to earning, or become an expense? The answer inverts everything.
Harari argued that wheat domesticated humans, not the other way around. The same logic applies to your salary. The more you earn, the more the system captures you — unless you plan the escape.
Dynamic withdrawal strategies promise flexibility — but only deliver it if your floor is far enough below your target. Most retirees have never stress-tested the gap.