Robert Brokamp

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4,580 appearances 41 recordings 3 series first heard Oct 2025 last heard 2d ago

Robert Brokamp’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 41 in all, peaking in Sep 2026 with 5.

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Motley Fool Hidden Gems Investing · The Truth About Spending in Retirement and Why It’s Good News · 18 Jul 2026 podcast

That's the topic of discussion on this Saturday Personal Finance Edition of the Motley Fool Hidden Gems Investing Podcast.

Knowing how much income you'll need in retirement is a key variable in determining how much you need to have saved before you stop working.

But retirement isn't just one financial goal, it's a series of annual goals.

How much you need in the first year of retirement, then how much you need in the second year, and then the third year, and so on.

Here to talk about how spending changes over the course of retirement is David Blanchett, the head of retirement research at Prudential Financial and a portfolio manager at PGM.

David, welcome back to the show.

Good to be here.

So when it comes to retirement planning, the default assumption is that retirees need their income to go up each and every year with inflation.

And we see this assumption in most retirement calculators.

I think most financial planners assume that.

And even most of the research into retirement, including the old 4% rule.

For over a decade, you've been doing research that has questioned this assumption, including in a recent study.

So tell us about your latest thinking about how spending changes over the course of a retirement.

So is this due to choice or is it people not having enough money and they realize, oh no, I shouldn't have retired.

I need to cut back my spending.

Is there anything else going on here?

So, for example, according to the Federal Reserve, about two thirds of the people in the age ranges of 65 to 74 have debt.

So is it maybe they're paying off a mortgage or is there anything like, you know, people enter retirement married, but sadly, one spouse passes away and expenses drop?

Is there anything specific about that or is it just a general decline in spending?

You mentioned you took a look at people who have very well-funded retirements, and you calculated that about 35% of people enter retirement not well-funded.

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