
The Other Retirement “Crisis:” Getting the Affluent to Spend Their Savings
Speaking at the 2022 SVIA Fall Forum, Kelli Faust, Corporate Vice President, and Actuary at New York Life Insurance Co., said that in affluent and mass affluent households many retirees are unnecessarily constraining their spending and living below their means. That means they’re not availing themselves of the lifestyle they claimed to want. She said living below your means could be considered the “other” retirement crisis.