Job eliminated – Hoping to retire.

[RAE]

A $37K pension is quite significant, considering your expenses are only between $41-$48K. Social security will give you a bit of cushion so that you don't have to rely too much on the $400K savings. However, I might not want to have 80% of my investment in equities if I was in retirement. I'm still working and I can't justify more than 60%. There is too much risk of a correction and you don't want to find yourself down $60-$70K if we have a 20% correction in the markets.

I agree completely. You're in pretty good shape because of the $37 pension (and SS coming), but since the pension is non-COLA'd and you will hopefully have many years of retirement life to finance, you're going to want to be very careful with that $400,000 you have invested. I think 50-60% in equities should be plenty, and even then, I'd watch things carefully and be prepared to adjust as necessary if market conditions change. You can always reduce expenses a little bit for a year or two if you need to at some point.....what you don't want to do is lose a significant chunk of that $400 grand if we have another 2008.