Meet the rich retired boomers who are now ultra-frugal because they are scared of going broke—even after saving for decades

Title: Meet the rich retired boomers who are now ultra-frugal because they are scared of going broke—even after saving for decades

Article Snip: "...wealthy boomers who have retired with at least six figures in savings are feeling the pinch. ...study from Prudential Financial. The Fortune 500 investment, money management, and retirement planning firm surveyed around 20,000 people over the age of 50 and found retirees are living well below their means.

Married 65-year-olds with at least $100,000 in financial assets withdrew an average of 2.1% of their savings annually—that is, nearly half the usual spending rate of retirees"

Reference: fortune.com
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