Most baby boomers will not have the retirement their parents had. To borrow a term from the headlines, the 99 percent of us who make an average wage and save an average amount for our "golden years" have watched our savings dwindle with the stock market over the past couple of years. Chances are good that we'll be in the workforce for a few years after our official retirement age.
When the recession hit and the stock market plummeted, more than a few workers watched their savings disappear. Hard-earned retirement funds dropped in value by as much as half. For younger workers, the result was a change in investment strategy. For older workers, though, the result was a change in retirement plans: They would stay in their jobs for as long as possible if only to maintain their benefits.