"Never before has mankind had 20 extra years" to live after retirement, according to Gary R. Jay, a certified retirement coach and owner of Remarkable Resource. "How do you plan for that?" he asked.
Jay, who works with financial advisors to give them skills to help clients transition into what he calls the Third Age, said our ever-growing retirement-age population is "at an explosion point."
"There's been a bottled-up need to do more planning around this time of life," he said. "This need has been created within the last generation, due to miracles of science increasing longevity and [the fact of having more] women in the workplace and more money to spend in the household."