The “New” Retirement Landscape
Most people know that the average life expectancy for Americans has increased more than 30% over the 80+ years that Social Security has been around. On the one hand, that’s great. On the other hand–the financial planning hand–that could be problematic, since the old schools of thought on how much of a retirement fund you’ll need to accumulate won’t work for what could easily be a 25- or 30-year stretch. And with Social Security replacing, for many people anyway, 40% or less of their pre-retirement income, sustaining a retirement for decades could be tough.
What’s emerging across this “new” landscape is a retirement view in which folks either stay in place in their job longer than originally planned or, in many cases, reinvent themselves in new careers that will take them well beyond what we know of today as the “normal” retirement. The Delphi Group’s Thomas Koulopoulos, in a post on www.inc.com, offers some thought-provoking insights on this subject, pointing toward how life experience can be used to carve out a work life extension in the new world. Read his post here…
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