Real retirement spending data reveals how much retirees actually spend, where their money goes, and what you should expect....
Millions of people spent it; know what happened.
Real retirement spending data reveals how much retirees actually spend, where their money goes, and what you should expect.
Nidhi Talks
8 min read
16 hours ago
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A few years ago, I was on the phone with a client, and we were discussing retirement expenses. I was making my usual points when the client interrupted me and said, “ Not that I don’t trust you, but do you have any data to back up your point?”
Well, they were in luck. We take an evidence-based and data-driven approach, and so we had the data to prove our point. If you’re a similarly analytical and data-driven person when it comes to retirement planning, you’re in luck too, because JP Morgan has conducted a comprehensive study on retirement spending.
In fact, they conducted two studies on this topic, and this is probably the best study on the subject because they were able to use the vast amount of data they received from their banking and credit card customers. They anonymized the data and then presented an in-depth analysis of retirement spending. And as I said, they conducted two studies.
#1: In 2019, it was…
Disclaimer: The views and opinions expressed in this article do not necessarily reflect the official policy or position of IRACircle. Always consult a certified financial planner or tax advisor before executing retirement account transactions.