Retirement Age: Is 70 the New 65?
An upcoming book on the retirement crisis suggests rethinking the 'normal' retirement age.
Many studies suggest that Americans are not saving enough for retirement and that a retirement crisis is looming. Alicia Munnell, director of the Center for Retirement Research at Boston College, has co-authored a book entitled Falling Short: The Coming Retirement Crisis and What to Do About It, due out in January. She spoke to Morningstar.com about the book's major themes, including rethinking what is considered the normal retirement age.
Morningstar: We hear the term "retirement crisis" a lot these days, yet what that term actually means can vary widely. Tell us how you would define the retirement crisis that we currently face?