No COLA but health care is covered
The pension is fixed but I am entitled to continue under my former employer's health care plan until I'm Medicare eligible so that's pretty well covered. I could convert the investments into a SPIA and meet our current income requirements but we would be exposed to inflation risk and there wouldn't be much to leave to the kids. On the other hand, a withdrawal rate of 4% would leave us short on income unless we dialed back our lifestyle. Also, we aren't covered for long term care, which is a concern.
I'm about 2/3 through Otar's book which I think may help me with a strategy but I realize there is much to learn.
"The best thing about the future is that it happens one day at a time." -- A. Lincoln