Ep 72: How Your Retirement Spending Is Likely To Change With Age

In the last episode, Kevin answered a listener question on inflation. He explained why retiree spending patterns in part combat inflationary risk retirees face.

Now hear Kevin delve deeper into retiree spending patterns. If you don't want to work longer than you have to or want to spend more in retirement, this is an episode you'll want to listen to.

Traditional retirement advice of having a steadily increasing income for life is wrong for most. Rather, spending tends to decline with age at a real rate of 1% yearly although increasing healthcare costs at the end of life are common.

Carefully modeling these age-related changes and monitoring your plan over time will help you Retire Smarter.

 

Timestamps:

2:14 - Different Stages Of Spending In Retirement

8:42 - Chase Bank’s Retirement Spending Data

14:02 - David Blanchett’s Health & Retirement Study

17:06 - Getting Accurate Spending Data Into Your Plan

 

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