My target is age 60, simply because DH will be age 62. And if my employer's retiree health care is revoked, it means I can get him to Medicare with three years of COBRA (California extends Federal COBRA by another 18 months).
Because we have always assumed low growth in the market, we have enough for a "leaner" fire today. And in another 4.5 years, it will be morbidly obese, based on a logarithmic increase in my pension the last 5 years of calculations. (Since both years of service and the age factor increase, once multiplied together I go from 65% of my paycheck today, to 95% of my paycheck in November 2025). It's insane.
Once I have that threshold, I will not be working again.
We have also moved money into buckets, and have adaptive SWRs. From age 60-65, we will withdraw 3.5% SWR. From age 65-70, it will be 3.75% of the portfolio. And after 70, we'll move to 4%, plus an inflation-adjusted pension, plus one SocSec at FRA, and the higher earner's SocSec delayed until age 70.
We have an asset allocation today that's 70/30%. Assuming 3.5% SWR, that gives us 8.5 years before we have to take anything from stocks in the portfolio at all. At that point, if things are still grim, I can advance the claiming on the high earner's SocSec, as we would have increased it 12% past FRA already.
So for us, it's not about savings and SWR, per se. It's about planning for good medical coverage, and about maximizing the base income from the pension and Social Security.
I fully understand that I might not make it to age 60 - layoffs happen. But I will do my darndest to make sure I give my employer good value for my paycheck, and very low drama. Keep my head down and the investment account balance up. Every month is an increase in the pension payout, and I hope to work my plan to fruition.