Rethinking Retirement

The first wave of baby boomers turns 65 in 2011, and they’re preparing for retirement — sort of.

When you think of the word retirement, what comes to mind? Florida beaches, cruise ships, smiling grandpas and big cars? Well, think again. How about peace signs, Beatles records and disco balls?

Yup, retirement is about to get a whole lot hipper because, this year, the first wave of baby boomers reaches the retirement age of 65. Your AARP card is about to become a lot cooler.

The boomers are enjoying their status (that is, if they can afford to after the economic meltdown of the last couple of years). But even if times are still tough for new retirees, they have to keep in mind that hanging up their work clothes at a certain age is a relatively recent phenomenon. For thousands of years, the retirement plan for most senior citizens consisted of working the crops or herding sheep until keeling over or, if you couldn’t quite push the plow or keep up with the flock anymore, moving in with the kids who, by law, had to take you in (“Honor your father and mother,” and all...