The bull market of the past eight and a half years has pushed stock prices to record levels, boosting retirement account balances in the process. But new research shows that for anyone who’s in or nearing retirement, there may be a downside to the market’s big run-up: today’s inflated stock values are expected to lead to far more modest investment gains in the years ahead, which could mean retirees will have to withdraw less from their nest egg if they want to avoid outliving their savings.
