Is the traditional idea of retirement at 65 evolving?
I think it is. I’d be very surprised if total retirement at age 65 became the norm looking forward. There are several reasons for that. One is, people are living longer and they don’t have the financial resources to generate the lifestyle they’d like for the next 30 or 35 years. So there’s the financial pressure to continue to work. The other is that at age 65, they’re really not ready for the scrap heap. They’re not ready to sit on the front porch, have a last cup of coffee, stare off into space and die. Many of them are healthy, fully engaged and active. They’re looking for ways to make contributions and to participate. They’re still engaged. You’ll see people going in and out of the workforce, doing second, third and fourth careers. I’m surrounded by people in their 70s who are having a great time continuing to work. They’re attorneys, or they own businesses or whatever. They may be scaling back a little in their activities, or not. Some of them are going full tilt and they just can
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