Forget About Retirement

I just read an interesting article in U.S. News & World Report.

The article is about retirement and how everything has changed for Baby Boomers over the past couple of years.

The main point is that most people need to adjust to reality and simply forget about retirement as we know it.

Key Phrases: 

I did see the article. Pretty sure it is right here:

The headline is intended to grab attention, but my take is that the article is not entirely negative.

Certainly suggesting that many changes are imminent in light of longevity trends and general economic/capital market conditions. However, there were several positive aspects.

What was your interpretation?

And another related article by Brett Arends in the Wall Street Journal this morning:

Arends' point is that delayed retirement is one of the smartest financial moves anyone can make:

a) delaying retirement builds savings

b) delaying retirement decreases the burden on savings by decreasing the number of years spent in retirement

c) delaying retirement (and delaying Social Security) is generally a financial positive

Was there any mention of annuities or guaranteed retirement income during the State of the Union address last night?

Not much--just something about providing Americans with access to a retirement account.

The Obama Administration's "middle class task force" suggested in a recently released fact sheet that an emphasis will be placed on "the availability of annuities and other forms of guaranteed lifetime income, which transform savings into guaranteed future income."