An article posted last month in Financial Advisor magazine suggests that financial advisors consider a withdrawal strategy recommended by the Stanford Center on Longevity to “help clients have enough money for the rest of their lives.”

In a presentation to the Financial Planning Association’s annual conference in Chicago last month, Steve Vernon (author and consulting research scholar for the Center) said, “I can state with confidence that the vast majority of older workers today in America are not going to be able to retire at age 65 at their preretirement standard of living,” adding, “They are either going to have to work longer or reduce their standard of living, or some combination.”

Note: Vernon’s comments referred to those with under $2 million in savings.

“The secret,” he told the audience, “is paying attention to motivation and inspiration,” explaining that advisors can play a key role in encouraging clients by not only discussing the numbers, but also by addressing ideas that motivate client behavior and potentially lead to shortsighted decisions.

Vernon believes people should embrace the concept of a second phase of middle age where they can still be productive, adding that retirement is an outdated concept. “Because I think no matter how healthy and vital you are in your 60s, and maybe even your 70s…you are still going to have a period to time when you are too old, or too frail, and you’re not going to be able to work. And we’re still going to call that retirement.”