Newsmakers

The Employee Benefit Research Institute released a study analyzing how and the rate at which retirees spend their savings. Meir Statman, Glenn Klimek Professor of Finance, offers the explanation that some retirees do not spend much of their savings because “people are reluctant spenders due to both personality and habit,” he said. “Successful savers have prospered by living below their means, and over time, that frugality becomes a matter of preference.

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