Preservation of capital depends on what the objective is.
Living and relying totally on an aged pension and ending up in a (lack of) aged care facility with no funds to spare means a very dismal last few years of life. Hence preserving capital is important.
So with the my current strategy, I can earn enough to fund the compulsory draw down, keep pace with inflation and live a very comfortable lifestyle while preserving capital. If there is any left over at the end I am happy to pass it onto my children.
