A study from the Vanguard Center for Retirement Research released recently is further evidence that retirement is more marketing concept than reality. “Worried You Don’t Have Enough for Retirement?” (from AARP The Magazine) is pretty typical of the advertising for financial advice and portfolio management that targets our age group.

The Vanguard survey of 2,474 individuals age 40 to 69 indicates that “The conventional view of retirement — working full-time until a set date then shifting to full-time leisure –- does not match the experience of many older Americans.” Ergo, the so-called “New Retirement” of baby boomers that blends work with leisure is not so new. Some other nuggets of interest from the study:

• According to the Social Security Administration, 45% of people 65 to 69 are earning income from work, as are 25% of people 70-74.

• Downshifting, as in changing one’s relationship to work, is more typical than an abrupt end to work.

• 6 in 10 people define the word “retirement” as some combination of work and leisure.

• Self-employment is the second most popular option among the “Never Retire” group.

• Implications for financial advisers: more complex and customized help needed.

• Implications for employers who want to hang on to their experienced talent: phased retirement in demand.

Our choice and recommendation is for a balanced portfolio of work, service and leisure in later life. For more on this, contact a 2young2retire Certified Facilitator in your area and ask about the 2young2retire course. For listing by state, scroll down on right.