A two-panel line chart comparing retirement outcomes with and without dynamic spending. The title reads “Dynamic spending can help avoid steep spending cuts and preserve savings.” Panel a (left): “Expected annual spending in retirement with and without dynamic spending.” The Y-axis shows expected annual spending from $25k to $65k, gridlines every $5k. The X-axis shows age from 67 to 100, labeled at 67, 70, 80, 90, and 100. Two lines are shown: “With dynamic spending in a typical market” (solid teal line) starts at approximately $65k at age 67, declines gradually to approximately $50k at age 90, then continues to approximately $48k by age 100. “Without dynamic spending” (dashed orange line) remains constant at $50k (labeled “Essential needs ($50,000)”) from age 67 to approximately age 87, then declines sharply to approximately $35k by age 100. A label indicates “Spending goal ($65,000)” at the top.