Retirement in an Era of Long Life
The problem with the dismal failure to prepare well for retirement isn't due to lack of discipline or character. The problem is that we are living our lives according to a model that was built for short lives, not long ones. We have an unprecedented opportunity to rethink work and retirement altogether.
With a little imagination, we can develop healthy models of work where we work many more years but enjoy shorter work weeks and longer vacations. We can institutionalize sabbaticals and retraining and we can modify stalwart institutions, like Social Security, so that they more flexibly provide the support Americans' need in ways that improve quality of life at all ages. It's this sort of retirement discussion that is long overdue.
Laura L. Carstensen is Professor of Psychology and Director of the Center on Longevity at Stanford University. She is author of A Long Bright Future: Happiness, Health and Financial Security in an Age of Increased Longevity.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts