Retirees and sequence of returns risk
Dirk Cotton, a financial planner based in North Carolina, runs a thoughtful blog called the Retirement Cafe. Recently, he has been writing on the idea of sequence of returns risk. Though my purpose here is to summarize some of the key points he made at his blog, I'd encourage you to check the original discussion there as well.
Pfau, Wade, "Retirees and sequence of returns risk" (2013). Faculty Publications. 143.