Tuesday, June 14, 2005

FPA Journal - Reality Retirement Planning: A New Paradigm for an Old Science

FPA Journal - Reality Retirement Planning: A New Paradigm for an Old Science: "Traditional retirement income planning generally assumes that a household's expenditures during retirement increase by a certain percentage each year to reflect historical inflation rates. This type of planning usually results in increasingly higher withdrawals from the retiree's nest egg to help sustain inflation-adjusted expenses throughout retirement.

Reality retirement planning is similar to the traditional approach in that it increases spending for inflation. This strategy differs from the traditional approach because it assumes that a household's real spending needs decrease incrementally throughout retirement."

6 Comments:

Anonymous Anonymous said...

Great article. This is especially true if you consider that retirement allows you to move where the jobs aren't (therefor reducing housing costs significantly). Additionally, most people (like us) who are working towards early retirement have already made the habit of continually finding ways to reduce our expenses year after year in order to accomplish our goal. Being frugal becomes a habit that I don't expect will change once retired.

12:38 PM  
Anonymous Anonymous said...

I think this article is more credible than the rule of thumb of 70-80% of pre-retirement income. The former at least uses consumption data, while the latter I am afraid is self-serving from a wealth manager's viewpoint.

2:19 PM  
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