Released: February 11, 2007

Downshifting, not retiring

Source: Martha M. Hamilton, Washington Post (Free Registration)

There’s a lot of talk these days about a “new retirement” that’s expected to flourish as a wave of workers reach their 60s during the next two decades. According to popular wisdom, the road to retirement for these folks doesn’t end in the rec room at Leisure World, but instead promises a mix of work and pleasure.

However, the Vanguard Center for Retirement Research looked at those forecasts and compared them with current reality, and in a recent report, authors John Ameriks, Holly B. Fergusson, Anna B. Madamba and Stephen P. Utkus concluded the trend is not so new. “Many older individuals have already been involved in some type of work at traditional retirement ages,” according to the report, “Six Paths to Retirement.”

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