[This series is a slow chapter-by-chapter review of the book The Mission Billionaires by James White and Victor Haghani. It's getting special treatment on this blog because it is novel and can potentially result in a new Dr Wealth course. To understand it all, the best option is to read the book. Otherwise, you may need to read from the first instalment of this series here. We are currently at Chapter 9 of the book] In this chapter, we will be exploring a better approach to spending and investing in retirement. A lot of ink has been spilt over this matter, so it's high time someone comes up with some fundamentals on spending ratios in retirement that are more in line with economic theory. First, we need to understand what a good solution to retirement spending looks like :

• Spending more is better than spending less.
• There is a decreasing marginal utility to spending more.
• Spending should be smooth over time.

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