Spending in Retirement

Knowing how much money you need to sustain a comfortable retirement begins with having a firm understanding of how much you spend, and there is a simple way to figure that out.

What if our ride to the finish line isn’t smooth? Complex risks including extended longevity and health issues can create a large financial burden on retirees, and as such, recent research from De Nardi shows that Americans are now saving well into their 80s and beyond.

We are experiencing a variety of unique factors that affect our economy today. And, while you might think these areas produce undependable data in the realm of retirement planning, that’s not always the case when it comes to making long-term decisions, specifically in regard to your income strategy.

Between the depletion of pensions, surging inflation and extended longevity, it might feel more complicated than ever before to know how to responsibly spend your savings, not to mention extend your income to potential decades down the road.

If one of your major financial concerns relates to spending changes in retirement, you will find encouraging news here; on average, retirees spend less as years pass.

With Valentine’s Day just around the corner, it’s the perfect opportunity to not only show your special someone just how much you care for them, but to also take the time to understand their financial background.

For many, the concept of retirement accumulation and retirement decumulation might feel hemispheres apart.

While the four percent rule might be a well-known standard, a recent Morningstar panel determined that in today’s economic climate, a 3.3 percent withdrawal rate might fare better for a conservative portfolio.