Your $5M liquid would be earning interest the entire time too. With that much money, it'd be 'easy' to make 4% - 5%/year, so you could live on $250k/year and never touch the principle.
That was my point. A good rule of thumb is that you can pull 3-4% out of a investment each year and you will never run out. Increase that to 4-5% and it should last your entire life.
Don't get me wrong, $250K per year pre-tax is a very comfortable lifestyle. However, it's not so much money that you can spend without thought.
