Is Your Plan for Retirement Too Safe?

Retirement planning often relies on overly conservative assumptions that may cause people to work longer than necessary or spend less than they could. The article challenges traditional rules like the 4% withdrawal rate (now suggested at 5.5% by its creator Bill Bengen), planning to live to 95 when most retirees won't, and assuming constant spending increases. It emphasizes that saving more reduces retirement needs by lowering lifestyle costs, and suggests balancing longevity risk aversion with enjoying retirement while healthy enough to do so.