TY - RPRT T1 - Decoding Retiree Spending Y1 - 2021 A1 - Sudipto Banerjee KW - Retirement KW - Spending AB - KEY INSIGHTS ■ Income replacement strategies often assume inflation-adjusted spending in retirement is flat; however, the data reveals that retiree spending declines annually by 2%, and it varies by wealth. ■ Retirees typically choose to adjust their nondiscretionary spending (often considered fixed spending) to match their guaranteed income, challenging the notion that these expenses are truly fixed. ■ Retiree spending behavior reveals a preference for asset preservation. Aligning products and services that account for this will hasten adoption of retirement income solutions. JF - T. Rowe Price Insights PB - T. Rowe Price CY - Baltimore, MD UR - https://www.troweprice.com/content/dam/retirement-plan-services/pdfs/insights/research-findings/Decoding_Retiree_Spending.pdf ER -