Synopsis

The baby boom generation has an outdated, 20th century model of retirement in our minds. Work really hard at a job you may not like that much, then retire full-time, preferably in your late fifties or early sixties. Live a deferred life, hoping that retirement will make you happy.

Unfortunately, most of us don’t have the financial resources for a full retirement any time soon, and we’ll need to work at least until our mid-sixties, and perhaps to our seventies. Do we need to wait this long to be happy?

It’s more realistic and healthy to move beyond the traditional view of retirement, and begin planning now for the rest of our lives. This plan might include working part-time into our late sixties, seventies, or even beyond – phased retirement, but with work that is interesting and fulfilling. It also includes taking care of our health, and adopting financial strategies so that we don’t outlive our 401(k) balances. If we do this right, most likely we will live vital, healthy, meaningful lives until our late eighties, nineties, or perhaps even to 100.

Live Long & Prosper! helps us achieve these goals, by combining:

• the latest research on demographic trends, financial markets, health, longevity and happiness,
• strategies, tools and information from Watson Wyatt Worldwide, one of the largest human resources consulting firms, and
• Steve Vernon’s 30 years of experience as a consulting actuary, helping his large clients design, finance, communicate, and administer their retirement programs.

Live Long & Prosper! helps you answer these questions:

• Do you have enough money to retire when you want? If not, when can you retire?
• How can you manage your income and expenses such that you don’t outlive your 401(k) balances?
• How can you invest now in your health, so that you won’t be wiped out by large medical expenses? What can you do now to live a long, productive and meaningful life?
• What can you expect from Social Security and Medicare?
• What’s the best work/life balance for prosperity and fulfillment?

Action steps that we take in our fifties and sixties will have a profound influence on our happiness, health and financial well-being in our seventies, eighties, nineties and beyond. In 30 years, we’ll see that the haves and have nots will correlate well with the dids and the did nots – those that did prepare for their rest-of-life will have a prosperous, fulfilling life.