What is different in your investing life as you approach retirement? Not much. You don't need to be doing something dramatically different than a 25-year-old. The mix may be different but the investments will be the same.
The ability to adjust spending has a much larger effect than asset allocation or even initial withdrawal percentage when it comes to retirement success.
There are many ways to spend your nest egg, but they generally fall into a continuum between the "probability-based" school of thought and the "safety-first" school of thought.
Phil Demuth explains what to do if you are a super-saver with an RMD problem. By using Roth conversions to ride the tax brackets, you can minimize the amount of tax paid.