I think its a mistaken assumption retirees are fearful of spending their money. Its more likely retirees are simply happy in the lifestyle they currently have and don't feel any need to spend more.

Thats exactly what my own mother is doing, she spends whats necessary and very little beyond that. As a result her net worth continues to grow instead of shrinking.

By the time we reach retirement our needs are pretty much fixed with little change. Our wants have also pretty much disappeared so we don't spend much money outside of our needs.

So I don't think its a question of "spend" or "scrimp" in retirement, its more about finding the balance that is comfortable for the individual or couple.

I don't spend spend spend now, why would I do that in retirement?