In this article Sophie Temperton discusses the large impact that managing your spending can have on your retirement outcomes. It is important to understand how spending changes in retirement, so that retirees do not need to take excessive levels of risk to achieve their retirement goals and retirees on average tend to spend less than expected. Reducing spending may be more effective than achieving higher investment returns and mitigates the level of market risk retirees who are vulnerable to sequencing risk need to take on. Returns are just one component of building a retirement income and lifestyle. A good planner knows there are multiple levers to pull, such as expenditure.

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