According to BusinessWeek there is a major social and cultural message in the current economic collapse for the future retirees of America: Forget retirement.
The recession is making it clear that the concept of not working and embracing leisure for the last third of one's life isn't practical for most people.
Put it this way: Survey after survey has shown that a majority of aging baby boomers plan on working in retirement. Well, that plan is coming true.
Today's image of retirement is still shaped by the early decades after World War II. It was in these years that retirees developed a distinct lifestyle captured by the mass migration to Sunbelt communities, traveling in RVs and bus tours, spending long mornings on the golf course, and other recreational pursuits.
That development of modern retirement is a great social achievement of the 20th century, but in the 21st century, the underlying economics of retirement are changing.
CLICK HERE for the full report.comments powered by Disqus