{ "media_type": "text", "post_content": "I saw a Harvard? study circa 2013ish that said effectively “be most conservative when you retire and get more aggressive as you age”. But can’t find it now. Anyone seen this and know where to find it?", "post_id": "5a1129a1fccb3f0019f48e4d", "reply_count": 2, "vote_count": 3, "bowl_id": "599feb177c057d0010be0554", "bowl_name": "Financial Advisors" }

I saw a Harvard? study circa 2013ish that said effectively “be most conservative when you retire and get more aggressive as you age”. But can’t find it now. Anyone seen this and know where to find it?

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Wade Pfau has research on a U-shaped equity glidepath. That sounds like what you're referring to.

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Yes I subscribe to this idea. It makes sense. You are most at risk of market downturns a few years before and after retirement. Then by the time you get into your late seventies and 80s you are unlikely to draw down all your money because even if the market drops by 50 % and you have a 10% withdrawal rate instead of 5% then your unlikely to live long enough to deplete that and if you do live into your late 90s you're glad you had a high stock concentration because of inflation

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