The overall performance of a portfolio is about 94% determined by the macro asset mix of stocks, bonds, and other asset classes. Micro-managing a stock portfolio is largely a waste of time as portfolios with similar mixes will perform similarly. Instead, focus on choosing good low-cost stock funds and on considering other parts of the portfolio such as bonds. When approaching retirement and safe withdrawal rates, different portfolios will have different safe withdrawal rates. The current fixation on stocks and bonds should be broadened to include other financial options in order to create better long-term portfolios.