My dad retired at 53 to enjoy my mom's last years as her health was not great. Worked at Eastman Kodak and left with the first golden handshake to a good pension with benefits. The extras beyond the pension just ended as the company went bankrupt.
Our generation grew up with lots of competition due to the baby boom, and also is the first to depend on 401Ks instead of pensions, so we may have to work longer. (My 101K will not support me anytime soon)
Everyone (Boomers, Gen X and Millennials) may have major jump in better health and active lifespan due to the stem cell research / bio technology coming to market soon or next decade." What would you do if you knew you would live to 120?" is not a theoretical question these days.
Millennials were raised as the most teamwork focused group you would ever meet. In many ways they remind me of the Silent Generation who saved the world. (Look at the warriors in Iraq and Afghanistan) I suspect they will overcome the slow economy and global competition. They will have many more opportunities in their long careers as the Boomers retire.
Intend to join them for the ride as long as I am productive.
March 17, 2013
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