Getting Older,Spending Less

This piece appear in the WSJ over the weekend. 2 very good points- first, that retirees either have to accept lower yields/returns from fixed income or stay in the market which is by definition "riskier". Second, at least the survey quoted indicates that retirement spending is starting to decline in purchasing power (inflation adjusted) terms. That is positive news indeed as spending has widely outpaced inflation from what we see in our practice.