Most retirement savers have a plan for how they are going to save their money, but they often forget about the other side of the coin: spending that money in retirement. Just as there are a variety of different ways to save money for retirement, there are also different ways to spend money once you have retired — four different ways, in fact.
Many retirees assume they will spend the same amount of money throughout retirement, but depending on your needs once you reach retirement age, your spending habits are unlikely to stay the same. This Barron’s article explains the four types of retirement spending patterns and how those patterns can change over time.
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