Go-Go/Slow-Go/No-Go Phases
The Go-Go, Slow-Go, and No-Go phases are a three-stage framework for retirement spending that divides the retirement period into an active early phase of high discretionary spending (Go-Go), a middle phase of reduced activity and moderating expenses (Slow-Go), and a late phase of limited mobility and primarily medical and care-related spending (No-Go), enabling more realistic and phase-specific retirement income planning.
The Go-Go, Slow-Go, No-Go framework, popularized by financial planner Bill Stancil and widely adopted in retirement planning literature, provides an intuitive way to communicate and plan for the natural evolution of lifestyle and spending across a 25-35 year retirement horizon.
The Go-Go phase typically spans the first ten to fifteen years of retirement, roughly from ages 62-65 through 75-80. Retirees in this phase are generally healthy, energetic, and eager to use their time and financial resources for experiences they deferred during working years — extended travel, relocating to a desired community, pursuing hobbies, supporting children and grandchildren, or starting a new venture. Discretionary spending is at its peak. Many planners recommend front-loading retirement income planning to ensure that the largest spending demands of the Go-Go years can be met without jeopardizing long-term sustainability.
The Slow-Go phase typically spans roughly ages 75-85. Physical capacity begins to moderate; long-distance travel may become less appealing or practical; activity levels naturally decline. Discretionary spending on entertainment, dining, and recreation often falls meaningfully in real terms, even without deliberate budget cuts. Healthcare costs may begin to increase modestly as chronic conditions require management, but significant acute care or long-term care costs are not yet the norm. Portfolio withdrawals may naturally decrease during this phase if the retiree does not maintain fixed withdrawals regardless of actual spending.
The No-Go phase typically begins around age 85, though the onset varies substantially by individual health status. Mobility is significantly reduced; independent living may require assistance. The primary spending drivers shift almost entirely to healthcare: skilled nursing, in-home care, memory care facilities, and the myriad out-of-pocket costs not covered by Medicare. The average annual cost of a private room in a U.S. nursing home exceeds $100,000, and memory care costs can be comparable. Planning for the No-Go phase typically involves a combination of long-term care insurance, a dedicated liquid reserve, Medicaid planning (for those without significant assets), or hybrid life and annuity products with long-term care benefits.
The three-phase framework aligns with the spending smile concept and provides a qualitative narrative that complements the quantitative modeling of Monte Carlo analysis and safe withdrawal rate research.