A lot of people were feeling, in the words of (Federal Reserve Board Chairman) Alan Greenspan, some irrational exuberance. They now have a much more realistic picture of retirement.

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The traditional notion of retirement, where one stops working completely and enjoys leisure time with friends and family, is obsolete. In fact, workers in 2005 feel less confident than they did in 2000 that they will be financially able to leave the workforce ahead of the traditional retirement age.

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