No. of Recommendations: 8
I expect you have made a list of things that will change - but if not the exercise is good. No longer will you be saving money for retirement - that is a big one and for us at seriously decreased our need for cash.

About withdrawing funds - I have observed there are a couple of basic approaches. One is pull out (or set aside say in a brokerage money market) the funds for the year. This method fits nicely with the SWR concept. Another approach is live on or spend the income or cash generated by the investments.

Specifically I have two checking accounts at a local bank. One I call operating and that is where/how I pay my bills and receive my social security payments. The other I call "Reserve". This account is associated with my brokerage account and I can transfer fund as desired. I keep in the range of 15 to 24 months of spending in my Reserve account. That way is some nasty happens (think 2009), I am not selling low.

I believe one reason our transition from saving to spending went smoothly was we had firm picture of our spending - decades of Quicken. So I could say the medical insurance will be X, the lack of saving for retirement will be Y, etc. I still have trouble spending money on things that were a delayed or avoided luxury 10 years ago. But spending money is like mowing a lawn. With experience it does get easier.
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