Carpediem
Full time employment: Posting here.
- Joined
- Aug 26, 2016
- Messages
- 770
Someone's reply in another thread hit so close to home that it prompted me to post this question as a separate topic: Are you starting retirement with a high WR? And when I say "high", I'm talking about 6%+ percentages - even up to 15-20%.
Other questions:
1. Do you have backup plans in place should the sequence of returns get ugly?
2. Are you planning on taking SS at 62 to smooth out the withdrawal percentages?
3. What will be your WR range after SS starts?
For us, our pensions will only be about $3500 *per year* (and no retiree medical) and we have rental income of around $10k/year. The first 8-9 years of retirement will require a range of 6-8% withdrawals per year IF I delay SS to 70 and DW files at 62. After 70, our WR drops to 2-3.5% for the remainder of our lives. (Note: This is based on calculations using constant spending amount.)
We could both file at 62 but I hate the thought of DW having a reduced benefit if/when I pass.
Other questions:
1. Do you have backup plans in place should the sequence of returns get ugly?
2. Are you planning on taking SS at 62 to smooth out the withdrawal percentages?
3. What will be your WR range after SS starts?
For us, our pensions will only be about $3500 *per year* (and no retiree medical) and we have rental income of around $10k/year. The first 8-9 years of retirement will require a range of 6-8% withdrawals per year IF I delay SS to 70 and DW files at 62. After 70, our WR drops to 2-3.5% for the remainder of our lives. (Note: This is based on calculations using constant spending amount.)
We could both file at 62 but I hate the thought of DW having a reduced benefit if/when I pass.
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