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Why David Blanchett’s Retirement Spending Research Is a Big Deal

In his May 2016 column, Jonathan describes the link between research by Morningstar’s David Blanchett showing that retiree spending is dynamic and declines sharply in real terms over time and dynamic withdrawal policies for generating sustainable retirement income that have always been predicated on this being true. This link has important implications for retirement income planning strategies and raises hard questions for approaches that ignore this dynamism.