Even with the creative strategies outlined in these pages, the story will not end the same way for Millennials as it did for our elders. But this shouldn’t be all that surprising.

Retirement is defined as the time when work is optional because not working is affordable. Typically, people retire when the money they’ve saved and income they’ve secured is enough to cover their lifestyle. Because it’s so capital intensive—meaning it takes a lot of money—retirement is often the hardest goal for a person to achieve.

In the past, retirement was not an elusive concept; it was a concrete and predictable milestone. My grandparents lived a classic retirement on the golf course in South Florida, where ...

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