DB pension choice
The 100% joint-and-survivor option always seemed like a no-brainer, but now that it's time to make that decision, there are definitely different perspectives that can be examined. I'll dispense with most of them, since DW has no benefits other than mine and she gets to make this decision, but how about this one:
Choose single-life and take out an insurance policy on me that costs less than the increase in the pension payment?
The non-COLA-ed pension is enough to take the pressure off our withdrawal rate, but it will supply about half our monthly income now. It will probably buy groceries in 20 years.
Anybody done this or know of drawbacks?