I am my own financial advisor. I studied it in college and read hundreds of books, subscribed to the WSJ and Barrons, etc.. I put every penny possible into my 401(k) from the moment it was offered. I invested aggressively through good times and bad and then moved most to cash a few years before I retired. It was (is) worth well over $2m when I retired. I haven't touched it since I retired 2+ years ago other than to move it to a self-directed IRA where I can trade as often as I like with no tax consequences (I bought AAPL one day and sold it at a nice profit the next day).
I have Medicare and BC/BS Bronze supplement, which takes care of most things, though I wish I had gotten dental coverage. I get a little over $3K deposited in my account each month from SocSec--looking forward to that big raise next year. I cover most expenses, including buying my kid half a house in San Diego, from cash built up in my brokerage account. I don't worry about 4% or any of that crap--if I want to buy something or go somewhere, I do. Some months I spend very little, others I spend a lot (just bought a new vehicle for $50K). The house, four cars, two boats, and all other toys are paid for--I don't intend on ever taking another loan. If I start to run out of money, I'll change my lifestyle. If I end up in a nursing home, I have a contingency plan.
I know this isn't an approach for everyone, but I busted my ass (averaged 50+ hours a week) for 42 years and the last thing I'll do is become a slave to a planned retirement approach. If I see a mint Colt Python at a reasonable price, I won't be worrying if it will fit into by 4% budget. YMMV
My financial advisor advice: save as much as you can--in your 401(k), IRA, and non-tax advantaged vehicles. If you are young invest aggressively and don't look at statements more than few times a year. Open one or more mutual funds that you treat as a regular monthly bill--send a $100 every month and increase the amount as you get raises. One day the state of Massachusetts will declare you rich.