| The conventional definition of the word retirement | | | | better off on average than workers in previous |
| simply means to withdraw from one's occupation or | | | | generations because they have engaged in some kind |
| business. This definition however does not accurately | | | | of planning, savings and investment often through |
| reflect modern society's concept of retirement. | | | | government sponsored programs like IRAs and 401k |
| Historically it was common for people to work for the | | | | plans. The expansion of Social Security and Medicare |
| same company for 30 or more years. Employees had | | | | also provide a safety net for seniors which didn't exist |
| a great attachment to their employer. When they | | | | in the past. It is interesting to note that a lot of younger |
| retired at 65 they were reward for a lifetime of work | | | | workers today worry that these government benefits |
| by the company with a pension that provided them | | | | that are enjoyed by current retirees, will not be |
| income for the remainder of their lives. They stopped | | | | available to them when they retire. So it may just be |
| working and life in retirement often meant a sedentary | | | | that today's seniors are living in a kind of golden age of |
| lifestyle. | | | | retirement. |
| Today the concept of a lifetime employment with the | | | | Once a person make a decision to retire there is the |
| same company is the exception rather than the rule. | | | | question of how to spend their time in retirement. I think |
| People usually have multiple employers, jobs and | | | | the best answer to that question is to consider the old |
| careers. They forgo the lifetime pension to secure the | | | | saying "different strokes for different folks". Some |
| best current opportunities for themselves and their | | | | people want to retire to the traditional life of leisure. To |
| families. At the same time employers trying to cut | | | | play golf, go fishing, travel, spend time on hobbies or |
| costs and boost profits have eliminated many | | | | visit with friends and family. Others decide to volunteer |
| retirement benefits for new employees. In some cases | | | | their time or take on a new career. These people get |
| workers in companies emerging from bankruptcy for | | | | bored sitting around and embrace new challenges. It's |
| example, have seen benefits previous promised to | | | | really all a personal decision because when it comes |
| them disappear before their eyes. | | | | down to it, retirement should be a time in your life |
| Even so, the retired worker today is generally much | | | | spent doing what make you happy. |