Systematic Withdrawal Schedule

Also called the Rhythm Method, this practice is frowned upon by modern day medicine. But uh, that's a different thing.

As applies to banking and/or investing, a systematic withdrawal schedule takes a chunk of savings and then distributes that savings in one form or another to the beneficiary.

Like...if you've put away $1,000 a month into your retirment account, to sit there in addition to your 401(k), and that 40 years of savings is now worth $1 million as you retire, you'll systematically withdraw, on schedule, $5,000 a month to live on "forever," with that money supplementing your 401(k) dough. Nice life if you can get it.