A longstanding rule of retirement spending is getting a pay cut. But there are ways to ensure the income you receive in your golden years doesn’t take a big hit—if you’re willing to be flexible.
Conventional wisdom recommends spending no more than 4% of savings in the first year of retirement and adjusting that amount annually to keep pace with inflation. The math behind that rule is changing as market forecasters predict lower returns ahead, potentially shifting the way that millions save and spend for their later years.