Cash flow

Bear market, lose -18% YTD. Almost wipe out all gains from last 10+ year. 

It's good time to buy in now, but the problem is no cash. 

Warren Buffett can conserve and allocate the cash from subsidiary companies during bad times. 

As individual investor, where can the cash come from? If still working, salary can be the war chest. If prepare or already retired, dividend may be the only way of cash in flow. 

As I am preparing for retirement, $120K dividend is necessary to maintain lifestyle. Above that, the cash in flow can be reserved and re-invest during bad times. That means the dividend yield of my portfolio must be 3%, assume 4M portfolio.