Well Chuck,
Deferred comp is typically taxable. Let's just say that you have presented the after tax amount and this includes any home equity that you have. In other words 400k is it. With no SS, you are solely reliant on your non inflation indexed pension of 60k. Let's further assume your ex will outlive you. So you do not plan on "getting back" her portion of your pension.
This 60k is a declining payment due to inflation. With this information as a baseline I would under spend on the home and set aside 6-12k annually from your pension until your mid sixties. This can then be spent down in the next 10-15 years. This will provide a reasonably even income until your later 70s when, several studies have proven, your spending will decline naturally.
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