William Reichenstein, who teaches finance at Baylor University, tells his
students that they will have
to save a lot more
of their working income if they hope
to retire as comfortably as their parents and grandparents, simply because they're going to live longer.
On Wednesday, France, which was the last holdout in Western Europe maintaining an official retirement age of 60, proposed increasing it to 62 by 2018. On the same day, California's Republican Gov.