Update: 53 and looking at potential 55 ER- Dreaming?

[DrRoy]

I can also take an accelerated pension from 55-62 adding about $5K to my annual pension of $36K. Then it drops down to a lower amount from then on which would be $31K annual. Still debating that...Cheers.

I see that the issue has been forced. Good luck. Personally, I would go with the steady payout. I think it is a mistake to take more now and less later.

 

[pb4uski]

My concern would be that of your two income sources only one (the 4% withdrawals) increase due to inflation but the pension is fixed, so over time inflation will erode the spending power of your initial $67k of income.

OTOH, it appears that you have not considered social security. Why?

Since your mortgage will eventually end when it is paid off, a better way to look at it is that you get $36k of pension income and $23k from your savings at a 3.5% WR [(780 savings -120 mortgage)*3.5%] which gives you $59k compared to $52k of expenses excluding the mortgage.

In Firecalc, it is preferable to include your mortgage payments as off-chart spending with an offset when the mortgage is paid off.

 

[Big_Hitter]

you folks do realize he's just retired and has another thread about it?

 

[Big_Hitter]

I think there is a new thread anyway....