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Victor Haghani: Lessons From the Missing Billionaires
The Long View
Balancing Smooth Spending and Increased Consumption during Retirement
Balancing the desire for smooth consumption over time with the aspiration of increased spending during retirement can create conflict. People generally seek consistent spending patterns throughout retirement while also aiming for greater consumption. However, these goals clash because the only way to enhance spending in retirement, when there's no labor income, is by accepting more investment risk. Financial advisors can assist in reconciling these conflicting objectives by helping individuals understand the trade-offs between maintaining smooth spending and achieving higher consumption by taking calculated investment risks.
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