Retirement is a time for spending. However, as today’s article highlights, it appears that affluent American retirees are not doing so. Rather, despite having accumulated an unprecedented amount in assets, studies find they are hoarding money. And while some may be doing so for rational reasons (e.g. wanting to leave a sizable inheritance), the primary motivator appears to be an irrational fear of running out of money too soon. Why does it matter if rich retirees are not spending this money – and how can they be trained to spend? CLICK HERE to read more.
