Decades ago, the “typical” retiree left work for good between age 60-65 and typically passed away at about 70-75. Retirement lasted 10-12 years for many Americans. Now the picture has changed: some of us will spend 30, 40, perhaps even 50 years in retirement. (Imagine retiring at 55 and living to be 105 … it is possible.) We may live much longer than our parents, and if we do, we will need a lot more money.