Demographic trends have changed the face of retirement in America, and the retirement industry has about three to five years to reshape saving for retirement and how it is lived, said Joseph Coughlin, director of the AgeLab at the Massachusetts Institute of Technology. "Let's retire the notion of retirement that our parents once enjoyed," Coughlin said at an industry conference. For one thing, he said, today's workers may be caring for at least one of their parents at the time their own retirement begins.

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