Re: Here's the plan...(moved from FAQ)
Couple of thoughts:
- As I understand it, you will be locked into your SEPP payments until age 59 1/2. However, SEPPs are a very complex topic, so I'd suggest more research on the subject.
- What you are proposing is basically a 12 year withdrawal period after which (I presume) the pension and SS will cover all your needs. 5 years into the deal, the pension kicks in and redces your withdrawal needs. This should be pretty easy to model in FIRECalc (hint, hint). The big risks I can see are that SS won't be there for you, and that your expenses will be higher than you estimate (health insurance, for example).
"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."
- English Bob