I dunno... the OP was proposing to keep $20k (1 years spending) in checking, $40k in savings and the rest in VBIAX so I just went with the $20k in checking and the rest in a balanced fund.
But now that I think about it I keep much less than a year of spending in savings.... I could see $5k in checking as a short-term emergenc fund and then $1,700 monthly redemptions from the balanced fund tansferred into checking... and then just monitor the checking account balance and do special one-time redemptions if needed to cover off unusual expenses (major car repairs, major purchases, etc.).
(Since $20k a year of withdwawals from a ~$250k nestegg isn't sustainable, you would want to reduce it by the amount of SS once DFIL starts collecting SS. You may also want to visit opensocialsecurity.com to look at various claiming strategies.)
What I described in the second paragraph above is pretty much what we do... I have a monthly "paycheck" transfer from our retirement online savings account to the checking account that we pay our bills with but we have some lumpy expenses in November (property taxes, car and home insurance, etc) so I do a special withdrawal to cover those. When we bought our camper a few months ago I did a special withdrawal to cover that.