Tag: drawdown speed
Recent studies have found that past generations drew down their financial assets very slowly in retirement, leaving much of their savings untouched throughout old age. This finding always seemed obvious to me, given that older cohorts had lifetime income from defined-benefit plans to cover their spending and could keep their financial assets for late-life medica…
Retirees have long been reluctant to spend the money they’ve accumulated in their 401(k) savings plans. But it also used to be common for retirees to have a traditional pension to cover their regular expenses. By the time the baby boomers came along, pensions were available to a dwindling minority of workers, and it isn’t…