In nearly 40 years of private practice, I've interviewed very few prospective Client's who's view on retirement and how that's all gonna work out is even close to being accurate.
Retirement planning is complicated in and of itself. It becomes more complicated with the pressure of being in "distribution mode" as opposed to a lifetime of "accumulation mode." Look when you were building your nest egg harrowing markets didn't bother you all that much because you were still making money. Well, that changes when you're living off your nest egg and employment is well into the rearview mirror.
Prudential makes a good point in their most recent commercial that you should be focusing on how long you might live not how long you think you'll live. With the advent of increasingly effective medical technology, many, many of us will leave the typical mortality ages in the rearview mirror by a pretty fair amount.
The mathematics of how retirement will likely play out are daunting and not something that a typical pre-retiree or retiree is in a good position to calculate. And missing the math might scuttle an otherwise rewarding retirement.
Am I pitching you to seek advice? Well sure I am because advice when done right works.
Will you have to pay for the advice, of course you will. But unbeknownst to you, you already are you just haven't figured out why or how.
Here's some help in that regard. Then take your savings and get some real planning done. It may be the most important step you take.