Rule of thumb is withdrawing 4% per year is a safe rate that will weather market turmoil if your assets are returning market average rates. A $1.4M portfolio will allow for a safe $56,000 withdrawal per year.
The 4% rule was based off the Trinity study, which looked at 30 year retirements and assumed the retiree would deplete their principal. It is not a safe basis for a long retirement.
https://www.kitces.com/blog/adjusting-safe-withdrawal-rates-...