ExFlyBoy5
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
If your pension covers 100% of your expenses, then it seems to me that instead of a retirement portfolio, it's just a regular investment portfolio.
I not only would NOT withdraw from it (why?) but also I would invest it differently. With all expenses covered, I don't see any reason to lower risk. Ironically, it seems that those who need the lowest risk are those who need the money to live on and can least afford low returns. Oh well, such is life.
Anyway, since I wouldn't be needing any of the money in it, I'd probably invest 100% in equities .
This is pretty much what I am doing. My pension does indeed cover all my expenses, so I have remained aggressive in my investments. I considered changing my allocation to put some in bonds, etc., but I am just not satisfied with the lack of money you make that way. I don't have an "end goal" for how much $$$ I want to accumulate, but when the DW decides to retire, then I don't want to skimp on travel expenses. It's expensive to fly business class from ATL to New Zealand, but that's the only way I will go. As I grow a little older, I will probably start shuffling the portfolio to safer alternatives, but not anytime soon.