Spending in retirement falls with age, and not by choice
Most retirees are likely forced to cut down costs due to insufficient savings, a new paper from the Center for Retirement Research found.
It has been well established that people generally spend less in their later years of retirement — but new research shows that it's often not a matter of choice.
Rather, most retirees are likely forced to cut down costs, largely due to insufficient savings for maintaining standards of living.
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