Experts caution worst-case scenarios even for well-prepared retirees

By Kay Nolan,  August 1, 2013

Kay Nolan is a contributing writer for This article ran in the August 1, 2013 issue.

Wisconsin’s longtime senator Herb Kohl, who owns the Milwaukee Bucks NBA team and whose family started the former Kohl’s supermarkets and current
department store chain, retired in December at age 77.

“I’ll still be involved, in public interests and in my private interests,” Kohl promised, following a luncheon in his honor hosted by the Wisconsin Coalition
of Aging Groups.

Like Kohl, most retiring Wisconsinites envision years of productive life ahead. But few share his wealth. So information on preparing to survive financially
without a paycheck is crucial.