Retiree Spending Doesn't Rise in Lockstep With Inflation, Blanchett Finds

New research published in Financial Planning Review, CFP Board’s peer-reviewed academic journal, finds that retirees tend to reduce their inflation-adjusted spending over time, including affluent retirees, suggesting that spending declines may often reflect personal choice rather than financial constraints. The study, authored by retirement researcher David Blanchett, suggests that incorporating lower real spending assumptions into retirement income planning models could support significantly higher initial spending rates and improve retirement decision-making.

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