Spending in Retirement

June 12, 2020

As the defined contribution (DC) industry recognizes the need to shift its focus from accumulation to more holistic strategies designed to provide lifetime income, the challenge of portfolio decumulation and providing sustainable income through retirement needs to be thoughtfully addressed. In doing so, having a strong understanding of the retirement spending objectives for workers is the critical component. In this paper, we focus on better understanding expenses in retirement and discuss the idea of using a “Needs and Wants” framework for designing income-oriented investment solutions. It is our view that this type of approach to how spending in retirement is viewed may be able to provide better solutions and outcomes for workers.


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