You can probably spend more in retirement
How do you know if you’re spending your life savings too quickly after retirement? The short answer is you probably don’t. Most retirees are in the dark, which is why they tend to be so cautious in their spending habits. In theory, you could know where you stand if you had the right software but (a) you have to find it first and (b) you have to trust the output. At present, those are two big ifs. Fortunately, there is a quicker way to check on whether you are spending too much or too little. It involves calculating your leftover savings at a given point in time as a percentage of what you started out with. You then compare that percentage with the right benchmark.
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Article by Fred Vettese, partner and actuary with Morneau Shepell.