I search the forum and at risk of this being discussed many times I'm going to throw it out there. So new in terms of withdraw strategy.
I'm 18 months into an ER due to Megacorp downsizing. Have posted here several times leading up to it and have really appreciated all the feedback.
The skinny:
Starting in 2018 I'll need to tap in to my company 401K to supplement my expenses. I *retired* with a pension and medical that essentially covers my day to day expenses. What it won't cover is taxes (house and Fed), homeowners insurance, and vacations if I chose to travel next year.
For the past 18 months the above expenses were covered from an account that was my severance which has not dried up (5 trips---Whoa).
I'm 57 and might not go back to *work* and if I do it will be PT most likely.
IT project manager and Financial Analyst (cost accountant).
I have about $800K in my 401K. I would next to WD 2.8% in 2018 and 1.8% thereafter (big tax hit in 2018).
My question is do most folks do it in January and be done with it? Or do the pay themselves on the monthly or quarterly basis---or with WD as they need it. Apologize in advance if this is a repeat question. New territory for me.
Cheers.