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Saving Should Run Through Retirement

People should continue saving throughout their retirement to reflect the likely pattern of their essential expenditure in old age, says Age Concern. The UK charity's report into financial resilience in later life urges older people to consider how their spending is likely to vary over retirement to alleviate the risks of overspending in early retirement. It recommends retirees plan for a ‘U-shaped curve’ in their expenditure, as initial higher spending decreases over time, before spiking again in much later life as care costs increase.

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