In the LA Times, Liz Weston provides some guidance on how that increasingly elusive objective can be achieved.
But fewer financially savvy Americans are buying in. For example, take the situation with lawyers. Those who have made a ton of money can afford to retire at just about any age without the usual angst: Living to 100 and running out of money before that.
For the rest, retirement seems filled with risk.
At the top of the list is the financial one, of course. They don't anticipate the possibility of being able to fund a lifestyle like the one they presently enjoy. So, they will not retire at all or they plan to work part-time.
Another risk factor is becoming bored. They love what they are doing. And, as long as their health holds out, there seems to be no reason for not continuing to do that.
America is the land of capitalism. One's identity is binary: You are productive or you are not productive. If the latter, you become invisible.
At social events, even the kindly kind such as a coffee fellowship after a church service, there is the glaze-through look. when you reach out.
Of course, lawyers who don't retire clog the pipeline for younger lawyers. That's just the way it is.
Those planning to apply to law school have to factor in the increased difficulty of getting, holding, and landing a better job practicing law.
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