Nearly 25% of older Gen X and young boomer workers laid off in the past decade haven't found new jobs, with 11% taking pay cuts.
The transition from a life of structured achievement to one of open-ended possibility is profound. For those accustomed to influence and achievement, finding new meaning requires more than just financial planning.
Rather than settling into a life of golf courses or cruise ship decks, he's just as busy now as he was when he was working - he's simply doing different things.
According to data from the Consumer Expenditure Surveys, the average retired household spent approximately $5,000 per month on living expenses, including housing and health care.