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Originally Posted by Nords
I wish there was a way for researchers to sort out the chicken-egg questions. Do elderly retirees spend less because they're afraid that they're running out of money, or do they spend less because they're shifting from "go-go" to "no-go"?
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That's the Bernicke research. He supposedly only used affluent individuals whereas the data Burns used was everyone. From what I've seen with my parents and in-laws, Bernicke is right on.
I agree that the typical retiree will see a large drop in spending when they retire.
Little Savings + No Pension + SS = Very Little Retirement Income
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The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
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