Research around the spending habits of retirees is debunking old myths. Rather than assuming a stable standard of living throughout retirement, this growing volume of research looks more directly at not just the composition of a retiree’s spending goals, but also at how expenses change as the retiree moves through different age bands.

Projecting retirement expenses using an age-banding approach may allow for a more nuanced and accurate representation of how spending will change over time. The ramifications cannot be overstated: Indeed, retirees may not actually need to save as much or accumulate as large of a nest egg to retire in the first place.

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