{"id":458805,"date":"2021-03-16T10:06:03","date_gmt":"2021-03-16T14:06:03","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=458805"},"modified":"2021-03-16T10:06:03","modified_gmt":"2021-03-16T14:06:03","slug":"t-rowe-price-finds-retirees-reduce-spending-as-they-age","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/t-rowe-price-finds-retirees-reduce-spending-as-they-age\/","title":{"rendered":"T. Rowe Price Finds Retirees Reduce Spending As They Age"},"content":{"rendered":"
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Retirees tend to be flexible about their spending, with asset preservation driving their behavior<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n BALTIMORE<\/span>, March 16, 2021<\/span> \/PRNewswire\/ —\u00a0T. Rowe Price<\/span>, a global investment management firm and a leader in retirement, has published a white paper<\/a> analyzing retiree spending habits, and found that retiree spending declines annually by 2%. This finding is significant because conventional retirement income planning assumes that retirees want to maintain a certain standard of living or a certain level of spending. However, the data suggests that retirees tend to adjust their spending to match their income so that they can avoid drawing down their assets. In particular, the analysis reveals that retirees choose to adjust their nondiscretionary spending (e.g., food and shelter) to match their guaranteed income (e.g. Social Security income, pensions), challenging the conventional notion that these expenses are truly fixed. <\/p>\n

T. Rowe Price’s<\/span> research suggests:<\/p>\n