The standard American model for retirement planning is dead.  And, according to one expert at TheStreet's Retirement, Taxes & Income Strategies Symposium, it's also unhealthy.

Living in Retirement was the subject of one of the panel discussions. The event's moderator was Robert Powell, TheStreet's Retirement Daily editor.  According to Powell, retirement is not just about the money; it's about making the most of your golden years. How will you spend your time? What will you leave behind as your non-financial legacy? This panel will explore the key ingredients of life satisfaction in retirement, as wall as explore the life lessons to be learned.

Why Traditional Retirement Is Unhealthy

"We go from all work and no play to all play and no working, and shifting your binge," said Mitch Anthony, President of Advisor Insights. "It's not healthy." He added that "we call that balanced." 

Anthony gave an anecdote of a friend he had who retired. The friend wanted to play golf all day and every day in retirement. When Anthony asked his friend -- eight weeks into the retirement -- if his perspective on retirement had evolved at all, his friend said he felt golf had gone from his hobby to his new job. 

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Enter the law of diminishing returns, in which Anthony explains that over-leisure can make a person go crazy. Anthony reminds that the over reliance on anything, and certainly leisure, diminishes the value of that thing over time. 

What To Do?

Here's what Anthony suggests. "Find a balance between vacation and vocation," Anthony says. That's a balance between work and leisure. Richard Salmen, President of the Family Investment Center, agrees. "What if you could find a way to balance the time off and the work that you do, and then you're going to more willing to work longer?" he said. 

It solves part of your income concern. You're working just a little bit. "there's still money streams coming in from there work," Salmen said. 

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Need help preparing for retirement? Check out Retirement Daily.