Description: The standard for measuring retirement income adequacy has been the final earnings replacement rate (usually targeted at 70%). But - does it work?

Description: Spending down (decumulating) assets during retirement involves complex decisions about which specific assets to liquidate in what amounts, in what order, and at what times. No established methodology exists for making these decisions in individual cases. This paper describes a manual process that individuals can follow, a process that could be automated for wider use.