Some Boomers will be around for another half century. Many will shun retirement. They'll take on new jobs or projects, pursue long-delayed personal ambitions. Freedman doubts they can do it on their own.
In his WSJ column, Freedman suggests new rituals for graduating from the rat race, and new government interventions, such as "preview" Social Security payments.
One idea your obedient blogger finds downright scary: yet another "tax-favored" investment account. This one would provide supplementary income for those leaving big-money jobs for low-paying public service. Just what we need – another few hundred pages of IRS rules and regulations. Can't anybody put money aside in a couple of mutual funds or ETFs without government intervention?
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In the 19th century, children went to grammar school, then went to work. In the 20th century, children became teenagers and went on to high school, delaying adulthood. Freedman sees that the 21st century is creating a similar delay in later life. Teenagers still have to figure out how to cope. Perhaps Boomers can be trusted to do the same.
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