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With fewer employer pensions these days, some retirees are hesitant to draw down their nest eggs. However, older Americans may spend more freely with a guaranteed source of income, such as Social Security or a private annuity.
That’s according to a research paper that examines spending in retirement. The report compared retirees with a life-long income stream to those living off an investment portfolio.The findings suggest retirees with guaranteed income may spend twice as much as those tapping wealth from their retirement savings. More from The New Road to Retirement: Here’s a look at more […]
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