[Editor's Note] Retire at 70?

Baby boomers were born between 1946 and 1964. Their sheer numbers (in the US alone, boomers comprise 77 million or one third of the total population) have made them a major force in global development.

As children, boomers were the darlings of parents rebuilding their lives following the chaos of WWII. As adults, they have enjoyed the longest period of economic prosperity in history. From advances in information technology to opening up society to new ideas, these movers and shakers "single-handedly" racked up more great achievements than any generation in history.

The older boomers are looking forward to fat retirement checks as they prepare to exit the labor force and enjoy their golden years. Some will opt for second careers; others will dedicate themselves to volunteerism. The future is not as rosy, however, for the millions of younger boomers-the 40 and 50-somethings-pulling up the rear. Global competition and dramatic changes in the job market over the past decade have caught many of them ill-equipped. Whole lives have been shaken up as a result.

Many middle-aged individuals find themselves sandwiched between their responsibilities at home and at work, under immense pressure to support their families, while doors leading to workplace advancement click shut. In line with the harsh predictions concerning "dejobbing" set forth in the book Jobshift: How to Prosper in a Workplace without Jobs, regular full-time, lifelong jobs with fixed objectives are quickly and quietly disappearing. After being laid off, many individuals are setting up their own private offices. Some do well; most find themselves vulnerable. Left with no choice, they become security guards, sell insurance, do what they can to earn a couple extra bucks. Savings accounts and networks of friends built up over the years might be enough to get them through three, maybe five years. But then what?

Career advisors caution that with revolutions in the workplace, the traditional idea of "finding a good job" no longer applies. But creating your own job requires an entrepreneur's wherewithal and get-up-and-go.

As a result, graying boomers are flocking back into campuses and cram schools, studying for their EMBAs and taking continuing education and certification courses next to kids fresh out of school. Not only have these nine-to-fivers become "five-to-niners," they take classes all day on Saturdays and even sneak back into their offices on Sundays to do their homework.

These are the lucky ones. Staying busy at least helps you to forget your worries as you pretend that you "have your future firmly under control." Many more boomers find themselves sliding into depression as they worry about not having what it takes to compete and about lacking money and time. They cannot stir themselves or stoop to self-improvement.

There is no end in sight to this workplace struggle-stress, overwork and depression are ubiquitous. Economists have questioned this practice, asking why, if success in the knowledge economy truly hinges on skilled individuals, these same individuals are being squeezed for what they are worth and then tossed. Aren't we shooting ourselves in the foot?

This month's cover story, "Baby Boomers Meet the Future," by Sinorama's deputy editor-in-chief Teng Sue-feng, underscores a thorny issue: Taiwan's new pension system has triggered avid discussion in the media concerning retirement benefits. She points out another trend: middle-aged baby boomers long to retire, but know that they cannot afford to so, at least, not in the next ten years. Maybe in 20 years, when they have a nest egg set aside and the kids are married and on their own, they can consider retiring. The problem is, long before that happens their present jobs will have disappeared. Who will guarantee their incomes after retirement? With advances in medicine, it is likely that they will live into their eighties. Realizing that they will have to count pennies as the years creep by brings the problem home very sharply.

If they shake off old ways of thinking, however, they can realize that they can plan their lives around the idea of living to age 80. Subtracting the last decade, they can recognize that their working years can be greatly extended. Armed with this frame of mind, and aware that the new personalized pension system will no longer penalize those who change employers, they understand that there is no need to hurry on their way to the top, that they can change careers several times. If burnt out, they can take a break, collect themselves, and then jump back into the fray feet first. If weary of a career, they can try something new and relive that joy of exploring the unknown. If they keep an open and clear mind, lead a simple, happy life, and keep themselves busy, by the time they are 70, they might feel that they still have a lot to offer and won't want to retire.