In this episode of The Personal Finance Project, we continue our book club series exploring How to Retire by Christine Benz. This week, we unpack her interview with renowned retirement researcher David Blanchett—diving into what real-world data tells us about how retirees actually spend their money, and how that differs from common assumptions. We discuss the "retirement income smile," why most retirees don't increase their spending in line with inflation, and how understanding your own go-go, slow-go, and no-go years can shape a more realistic—and more enjoyable—retirement plan. We also explore the controversial "A-word" (annuities), the behavioral benefits of guaranteed income, and what Blanchett's research suggests about safe withdrawal rates (spoiler: it might not be 4%). If you're nearing retirement or helping someone who is, this episode is packed with insight on how to align your financial plan with real-life behavior, reduce anxiety about spending, and create a retirement you can actually enjoy.

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