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Jeannie and Rod Koleno, a retired couple, hike Lane's Trail near Adams Gulch in Idaho, Nov. 11, 2018. Many people looking to retire assume that they can spend 4 percent of their savings each year and that expenses will stay stable. Some research shows a decline instead. (Alex Hecht/The New York Times)

Jeannie and Rod Koleno, a retired couple, hike Lane's Trail near Adams Gulch in Idaho, Nov. 11, 2018. Many people looking to retire assume that they can spend 4 percent of their savings each year and that expenses will stay stable. Some research shows a decline instead. (Alex Hecht/The New York Times)