Not-So-Great Expectations

My latest piece for MarketWatch is available here.  A taste:

Suppose a couple earning a combined $100,000 per year wishes to retire. They prepare their budget and conclude that they can live on $60,000 in retirement (note that whether their assets can sustain that level of spending is a separate and crucial question, one I will cover in my next article). The replacement research suggests that this couple will likely need around $80,000 to replicate their pre-retirement lifestyle. Can they really expect to live on 25% less than that?

Retirement lifestyle: Lowered expectations

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