Teaching Retirees to Live It Up

摘要

Ah, retirement. You work, you save, and you invest so that when you finally clear out your desk and say farewell to colleagues, you can travel the world or kick back at your beach house. Yet recent studies show that many retirees are so fearful of big expenses late in life that they continue to scrimp long after they've left the office. The BlackRock Retirement Institute estimates that in the first two decades after quitting their jobs, people with savings of more than $500,000 had drawn down only 17 percent of their portfolio. Medium-wealth households-with savings from $200,000 to $500,000-had reduced savings by 23 percent.