What If Retirees Don't Want To Run Out Of Money In 30 Years?
Traditional safe withdrawal rate literature regularly makes the assumption that retirees will choose a withdrawal rate that will leave precisely no wealth after the final withdrawal in the thirtieth year of retirement. Retirees cling to the inflation-adjusted withdrawal amounts, which leaves them playing a game of chicken as their wealth plummets toward zero.
Pfau, Wade D. PhD, "What If Retirees Don't Want To Run Out Of Money In 30 Years?" (2016). Faculty Publications. 562.