Ameriks, JohnHess, MichaelRen, Liqian2023-05-232023-05-232009-10-012019-08-23https://repository.upenn.edu/handle/20.500.14332/43708This chapter describes and evaluates alternative approaches to spending in retirement, including income annuities, common rules of thumb for spending used by financial planners and advisors, and the spending rules that have been incorporated into payout funds, a relatively new type of investment product designed to be used by investors in the spending stage of life.Opinions and conclusions are solely those of the author(s) and do not reflect views of the institutions supporting the research, with whom the authors are affiliated, or the Pension Research Council. Copyright 2009 © Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.EconomicsWorking Paper