In Gen Debt I looked at evidence that the 60 year old American model of retirement--65, gold watch, and out--is fading, replaced by longer years of work and more uncertainty. The implications for all Americans, including Gendebt-ers are multifold: as caretakers, workers competing for jobs held by older and more experienced workers, and eventually retirees ourselves. Lots on this, if contradictory, in the papers lately.
The NY Times ran a Sunday story saying more people are planning to work part time after "retirement." "There are, of course, broad social and economic reasons for the emphasis on continuing work — notably, the decline in availability of traditional pension plans and health benefits, and the need for older workers to provide for themselves over a lengthening lifespan." Yet the LA Times has a study by McKinsey&Co showing "American workers, who face growing financial pressure to stay in the workforce, are far more likely to be forced into an early retirement than many expect, according to a study being released today." Reasons include health crises and downsizing, where older workers are eliminated first.
So people want to work longer but they may not be able to? This is kind of like the increased contingency for young workers. IF you're comfortable and self-supporting, it looks like flexibility and freedom. If you're struggling, it looks like a cold cruel world.