>>16619403
Yes, except long-term inflation adjust returns are right around there for the US market. For a long retirement, your ability to draw on your investments near-indefinitely is closer to 3.25% in pre-tax real dollars. Assuming you don't suffer any dividend cuts or other market bullshitterey, you would want to reinvest at least about the same (long term average inflation is ~3.22%) or $64,400 in your first year. So, your approach only leaves you with a spendable 2.8%/yr until you decide to deplete the principal.
It's the approach I'm taking with all of my fiat savings, but get-rich-quick it is not.