So I retired at 60 a few (well a bit more than few) years ago and set a WR of 3.75%. Since then, my assets have almost doubled (with the help of a nice inheritance) but I'm still taking the same static amount that the original 3.75% was. Guess I was too lazy too calculate inflation. My WR is now only 2.59%.
Anyway, we are now mortgage and car debt free and are taking SS (I have taken restricted spousal). With my military pension and SS (once I take my own SS) we will be bringing in almost $84K yearly.
I should be able to reset my WR to 4% on my assets and not be too concerned with outliving my $$ correct? At my age (68) that rate is pretty safe plus I have the other $$ to fall back on.
I'm thinking I could give any excess to my kids or to charity.
Anyway, we are now mortgage and car debt free and are taking SS (I have taken restricted spousal). With my military pension and SS (once I take my own SS) we will be bringing in almost $84K yearly.
I should be able to reset my WR to 4% on my assets and not be too concerned with outliving my $$ correct? At my age (68) that rate is pretty safe plus I have the other $$ to fall back on.
I'm thinking I could give any excess to my kids or to charity.