When doing long term income projections, is it possible to drop spending by say 25% at age 75 and then continue adjusting that revised spending by inflation rather than having spending continue along the same rate?
Yes, go to the 'Forecast' page and on the 'Retirement Income Target' tab, and click 'Advanced'.
You can increase or decrease retirement income at three points during retirement and income continues to be adjusted with inflation throughout.
You can also add one-time or recurring special expenses in your retirement income goals (such as car purchase every few years, trips, weddings, etc.).