"should be comfortably well off"

Excellent! Congrats on your retirement. Here are a couple of withdrawal tips I share with my clients:

The higher SS recipient at 70 should wait until 70 to take SS, if possible. Ideally, both wait, if you can afford it.

Before taking SS, see if taking money out of a Taxable IRA is a better option in the meantime, Why? When taking a pension AND Social Security, they each make the other more taxable. There are also tax pockets where a higher percentage of taxable SS might be triggered, so what you thought was a 22% bracket is really a 31% bracket.

Also, consider Roth conversions, ESPECIALLY if you're below the 22% federal bracket. Remember, RMDs will be required the year you turn 73 (75 if born in 1960 or later), and will be based on your Taxable IRA balance on January 1st. The more you've relied on your taxable IRAs, the less your RMDs will be.

The bride and I are in a sweet spot: she's fully retired, I'm still working, so we've got enough room in our tax bracket to take extra out of our Taxable IRAs (at a low tax rate), and turn around and fully fund our Roth IRAs, something we wouldn't be able to afford normally. This will draw down our taxable IRAs, while feathering our Roth IRAs. Once we start taking SS, we'll take out just enough from Taxable IRAs to get us right below the higher tax bracket, and then withdraw from Roths whatever else we want/need.

Meanwhile, we'll get to pay taxes where we want, when we want, and at the rate we want.

Happy retirement!

MB,

It wouldn't hurt!

Years ago, a client of mine who worked at the investment firm I was going through remarked to me, "It's really easy to muck with tax rates in retirement."

I didn't realize exactly what he meant until I got there. Frankly, the control I have is MUCH MORE than I ever imagined would occur. And the opportunities keep coming.

For example, it literally makes no sense for me not to take monies out of a taxable IRA, and turn around and fully fund my Roth IRA and my "spousal" Roth IRA ... which can be done if either spouse earns enough.

The real key though is how we got here: automatic monthly savings, the first and 15th of every month. Then, when we paid off our mortgage, doubling the savings.

Now, the bride spends most of her time planning vacations.

"SS when I take it."

Since you are the higher earner, plan on 70. Or frankly, 72, since they'll doubtless push it back by the time you get there.

"I have no idea how long I will work but I want the option to hang it up at 61-62."

I'd advise working at least until you go on Medicare at 65; otherwise you're paying for your health insurance in the 4 most expensive years of your life.

I always told myself I would retire as early as possible, and absolutely before I turned 65. Then I got there, and had no desire to stop doing what I do. Of course, the draw is I only do what I want to do; it's been that way for 38 years.