05/16/2014 10:47 am ET Updated May 16, 2014

Was Retirement Better In The 1950s?

SuperStock via Getty Images

While it might be natural to long for the "good old days," by many measures, retirement today is much better than it was in 1950. First let's look at some statistics that tell the story, then let's look beyond the numbers at the real story.

Retirees are living longer

According to a report from the Stanford Center on Longevity (SCL), in 1950, a man age 65 could expect to live another 13 years, to age 78. By 2010, a 65 year-old man could expect to live to age 82, or 17 years longer. A woman age 65 in 1950 could expect to live another 15 years, to age 80. By 2010, she could expect to live another 19 years, to age 84.

Read more on CBS MoneyWatch