Look up “retirement” in the dictionary, and you’ll find words like withdrawal. Seclusion. Removal. Retreat.

A very different set of definitions is coming into view for the generation of Americans now approaching retirement age. Words that come to mind include reinvent and engage. Risk-taking. Enjoyment. Learning. That’s why I’m so excited to be taking the reins of Retire Smart from Humberto and Georgina Cruz, the column’s very able proprietors and creators.

I turned 53 last month, so retirement is down the road for me. But as a journalist, I’ve been writing about midlife transitions for the past several years. Like so many other Americans, I started thinking about the question of what comes next in my mid-40s. Then, I noticed that many of my friends seemed to be asking similar questions about their own future path as they approached 50.

I’m a business and financial journalist by background. So, as I set off to learn more about life transitions, I focused initially on money and careers. Study after study shows that baby boomers don’t intend to retire from work in the traditional sense. That doesn’t mean they plan to stick with traditional fulltime employment for the rest of their lives; many will, in fact, “retire” from the fulltime employment that characterized the first phase of their working lives. But more than three-quarters tell pollsters that they hope to create a fulfilling new blend of work and personal pursuits.

That reinvention might mean part-time work, consulting, starting a business or launching a second career unrelated to the work they once did. And not everyone will be working because they want to; only about a quarter of Boomers have saved adequately for retirement, according to research by McKinsey & Co.

Of course, not all the questions revolve around work. Boomers will face challenges in managing their money, housing and healthcare. And, they’ll be looking for ways to enjoy more flexible schedules by traveling, spending time with family, returning to school, volunteering their time and pursuing countless other passions.

Managing these transitions will be of paramount importance to millions of boomers. But the story also is fascinating because the aging of the Boomer generation will have enormous impact on all of our futures—for good or bad.

If that sounds like the observation of a self-absorbed boomer, consider that we’re talking about 78 million adults—the largest generation in U.S. history. Boomers have had a disproportionate impact on society and the economy at every stage of life, due to their sheer numbers.

This next phase of life will be no different. The aging of the Boomer generation will drive a “graying of America” phenomenon unique in our country’s history.

By the year 2015, the population of 50-plus American adults will be roughly the same size as those under 50. We’ll have more than 45 million households occupied by people 51 to 70 years old, according to a McKinsey & Co. report. These households will account for 60 percent of wealth, and 40 percent of consumption and income, the report concludes.

At the same time, the workforce will be graying. The number of 55-plus workers will grow nearly 47 percent by 2016, according to the U.S. Bureau of Labor Statistics—nearly six times the rate of overall workforce growth.

The graying phenomenon has huge implications for our healthcare industry, and it will drive trends in businesses such as real estate, travel and financial services for years to come.

These trends will be the backdrop for Retire Smart, which will be a how-to guide for navigating retirement’s new realities. I’ll be showcasing people who have come up with smart solutions to the challenges, talking with experts who have useful ideas to share, and answering your questions.

The column will be interactive, with a companion blog I hope you’ll visit at www.retirementrevised.com. The site offers an opportunity for us to have two-way dialogue on retirement, and for you to have input to what I’ll be writing about. You’ll also find useful links to resources and tools related to the column, additional articles and video.

I’m excited about the challenge to Retire Smart. Let’s take it on together.