The majority of investors (92 percent) have to adjust their retirement income plans after entering retirement, and most are doing so in order to meet necessary expenses, according to a recent survey by Sun Life Financial.

The Retirement Income Pulse Poll of Financial Advisors, a national poll of nearly 500 financial advisors, found that most investors aren’t adjusting their retirement plans to accommodate lifestyle choices; rather, they’re trying to meet basic, non-discretionary costs or avoid running out of income. Specifically, of financial advisors who have clients who changed their retirement plans, 34 percent did so as a result of non-discretionary expenditures such as unexpected health costs, and 43 percent did so to avoid outliving their income. Only 21 percent changed their plans to have more discretionary income.  

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