“People! Why won’t they behave the way financial advisers and economists tell them to when it comes to their retirement and their money?

Last week, Merrill Lynch and Age Wave came out with a survey of retirees which found not only didn’t they all downsize when retiring, 30% who’ve moved since they retired have upsized their homes.

Now, a fascinating survey by the Hearts and Wallets financial research firm has discovered that many retirees are completely ignoring a time-honored rule of thumb about retirement withdrawals.” -Forbes

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