Chapter . Introduction
Saving for retirement used to be so easy. Companies provided pensions that would pay their retired workers for the rest of their lives, not to mention the fact that companies would also pay for health insurance for retirees. On top of that, there was workers’ own savings. And don’t forget the Social Security check that came in the mail every month. Retirees were set for the rest of their lives.
But times have changed. People are living longer. Baby Boomers facing retirement can expect to live considerably longer, but not necessarily healthier, lives than their parents. They will spend much more time in retirement. But few companies offer the kind of guaranteed, defined-benefit pension plan that formerly was so common. The ...
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