looking for input

[recentlyretired]

Hello all,
New to the forum (just did the intro) and did actually recently "retire" at age 52, although I still work about 1/2 day/week. Looking for input on my withdrawal strategy.
Me: age 52, wife age 49. Three kids with ages: 19 (soph in college), 17 (fresh in college) and 16 (junior in h.s. but college bound).
The numbers:
College for all three fully funded and seperate, so the numbers below leave out the college funding.

Income:
Me: 9k/year as very p.t. consultant
Wife: 20k/year in various p.t. jobs
Pension: Wife's: 48k/yr with 100% beneficiary should she go before me.

Health Insurance: I feel kinda guilty in saying this b/c is cheap and It's great (Anthem BC/BS). Again thru wife for our family, that continues should she pass first (part of her retirement package from hazard duty job). Becomes secondary once medicare kicks in.

Savings:
750k total with overall asset allocation of 28% domestic stock index funds, 12% international stock index funds, 30% bond funds and 30% cash.
457 Plans that we can now access: 285k
Traditional IRAs: 200k
SEP: 100k
Roths: 120k
Savings in cash (post tax): 100k

Future Social Security (assuming no changes in the rules) at age 67 (FRA): Me: $2240/month, Wife: $1950/month.

Spending: $6800/month (includes income taxes). We live in what most would consider a high cost of living area with high property taxes.

Debt: Mortgage only ($1400/month). Paid cash for three, reliable used cars over the past few years.

We have been tracking our spending and it's quite variable, spending more over the summers when our income drops, and less during the academic year when the two older kids are away at college, which coincides with an increase in our income. So it's the girl with the curls, when things are good they are very good, when things are bad they are very bad.

The withdrawal strategy we currently are using to bridge from here to both of our social security: take money out of cash when we need it. Last month that was $1,800. This month looks like we won't need to take out any funds. My thinking is to take from cash (savings for now, 457 as needed in the future), as we are quite conservative in our asset mix right now, and replenish that cash with funds from either stock or bond funds, whichever is performing best. This is a really loose strategy on my part and looking for input to firm that up with something more concrete. Questions, thoughts and input welcome.
Thanks
RR

[Dream of Freedom]

Looks like you are set for life. Why so much cash? Expecting a downturn?

[recentlyretired]

Actually, yes. If dems win office, which I am expecting, yup, and looking to buy on the dips along the way