In the April 2018 AAII Journal, there was an article by Meir Statman entitled “Are You Spending Too Little in Retirement?” in which Statman describes clients who continue their thrifty ways into their later years. I’ve already critiqued some of his views in “Dying Young Is Not A Retirement Plan” and “Your Children Are Not Entitled To Your Retirement Savings.”
In the first article in this series, I rebuked Statman’s suggestion that you can cut loose on your spending because you likely won’t live as long as you think. In the second article, I addressed Statman’s irresponsible exaltation of giving money away to family as the pinnacle of virtue. In this article, I am defending the use of self-control in your financial habits.
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