13
Jun

Why I’m Not Buying the Retirement Gloom

My opening article for a bi-weekly series on Unretirement. Why I’m Not Buying the Retirement Gloom: In the emerging Unretirement movement, you are your best investment

Gray wave. Age wave. Geezer tsunami. (Pick your favorite — or most hated — euphemism.) Catchphrases like these capture the realization that we’re living longer and that older Americans make up a growing share of the population. As economist Laurence Kotlikoff and columnist Scott Burns say in The Coming Generational Storm: “The aging of America isn’t a temporary event. We are well into a change that is permanent, irreversible, and very long term.”

Living longer should be a trend worth celebrating. But many people believe that America’s boomers can’t afford retirement, let alone a decent retirement. They fear that aging boomers are inevitably hurtling toward a lower standard of living.

And here’s their evidence: We’ve just been through the worst downturn since the 1930s, decimating jobs and pensions.

Retirement savings are slim. Surveys show that boomers aren’t spending much time planning for retirement. The prediction that the swelling tab for Social Security and other old-age entitlements will push the U.S. government and economy into a Greece-like collapse seems almost routine.

The Unretirement Movement

Don’t buy into the retirement gloom. I’m not.

Here’s why: The signs of a grassroots push to reinvent the last third of life are unmistakable. Call it the “Unretirement” movement — and it is a movement.

You can read the rest of the article on nextavenue.org