The Retirement Challenge: Will You Sink or Swim?

Lesson 2 The Changing Face of Retirement

Retirement used to mean a short period between age 65 and death where the retiree sat on the front porch and vegetated.

Not anymore. Today, baby boomers are going in and out of the workforce, changing careers, going part-time, delaying retirement—many refuse to consider ever slowing down. Most of today’s 60-year-olds are healthy, vigorous, and engaged. They have to plan for 40 years or more without a paycheck, while taking care of their parents, children, and grandchildren. Not all of them will make it that long, but they can’t plan on anything less than age 95.

While walking down the docks in Bimini recently, the author of this book was hailed by a jolly young man of about 70, who was lounging comfortably ...