Around the time they turn 50, many people unconsciously begin to ratchet up their spending. Instead, prominent retirement planning scholar Alice P. Munnell thinks financial planners need to wage a campaign to get their clients to hit the pause button at this crucial midpoint in their lives.

“There really is a decision point in many households in your 50s after the kids leave the house and people enter their highest earning decade,” said Munnell, director of the Center for Retirement Research at Boston College.

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