The Kaleidoscopic Retirement

Stein, Michael K.
March 2001
Journal of Financial Planning;Mar2001, Vol. 14 Issue 3, p36
Academic Journal
This article discusses the changes in the concept of retirement for workers in the U.S. According to the article, attempts to get workers to pay directly for their own retirement failed because wages were so low. Attempts to get workers to accept lower wages in order to allow their employers to accumulate a trust fund, from which they could provide retirement benefits, was very hard to sell. In the spring of 1999, a group of retirement specialists gathered in Tucson, Arizona under the auspices of the National Endowment for Financial Education to examine 21st century retirement. One of their tasks was to find a consensus definition of "retirement." After four hours of spirited discussion, they gave up trying to find a mutually acceptable definition. One of the changes that is clearly coming is an increased role in retirement planning of preparing for the nonfinancial issues. It will come from medical professionals, financial planners, attorneys and other professionals, but it will come because it is so sorely needed.


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