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I suspect if people live a lot longer they would be retired for a somewhat longer period of time. Just the financial planning takes on a very different character.

We have some control over when we retire. However, we have very little control over how long we will live.

It is estimated that raising the retirement age to 70 would cut the shortfall by about 36%. But this proposal has some drawbacks. Women and men who have worked jobs that require manual labor all of their lives may not physically be able to do work until they are 70 years old.

I would expect the family would continue to play a critical role in leading Fidelity. However, the company does not necessarily have to be run day-to-day by a family member. It will be run by the person who is determined to have the right skills and chemistry.

I think retirement's for old people. I'm still in the business, thank you. I have a young child of nine years old, and I want to live as long as I can to see him grow up. I'm enjoying my life and I want to stick around for as long as I can.

There are some who start their retirement long before they stop working.

I think every responsible public board at every board meeting should be discussing succession. And, of course, Walmart has a very mature board: our chairman Rob Walton and other members. So succession is an ongoing. I think when I first joined the board of directors, it was discussed then. And it's discussed at every board meeting continually.

In 1890, nearly everyone died on the job, and if they lived long enough not to die on the job, the average age of retirement was 85.

I inherited the company from my father after he died very unexpectedly from a heart attack in 1966. He was just 51 years old, and I was 21.