Are Retirement Spending Strategies Different For Individuals And Institutions?
Endowment policy—a general term referring to the spending decisions facing endowment funds, foundations, family offices, and other related institutions—has confronted questions about sustainable spending for many years.
Endowment funds have shifted to the probability-based methods discussed in this chapter since the 1970s, as previous ideas about only spending interest from a fixed income portfolio were slowly abandoned for not providing enough income and inflation protection.
Pfau, Wade D. PhD, "Are Retirement Spending Strategies Different For Individuals And Institutions?" (2016). Faculty Publications. 609.