Where does retirement income come from in wealthier households, and how much of that income is spent during retirement? (Photo: Getty)

A survey of affluent retiree households shows that, despite having a median total household income similar to “traditional retirement” households, they rely more on withdrawals from financial accounts for retirement income than the latter.

A Vanguard paper titled “Withdrawals from financial accounts in retirement,” by Anna Madamba, Ph.D., and Stephen P. Utkus, explored where retirement income comes from in wealthier households, and how much of that income is spent. The study also looked at the types of accounts owned by households and whether the type of account affected how money is spent during retirement.

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