According to the life-cycle theory of consumption, people tend to dissave during their retirement years.

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The life-cycle theory of consumption suggests that people tend to save during their working years and dissave during their retirement years in order to maintain a steady level of consumption over their entire lifetime. This is because people typically earn more during their working years and have fewer expenses, while they have lower income and higher expenses during retirement.

According to the Life-Cycle Theory of Consumption, People Tend to Dissave