People sometimes ask me: “What should I do with my retirement account?” I often tell them to consider ways of retiring that are not dependent on financial abstractions and various corporate/government promises, such as Social Security or corporate pensions. This usually gets some puzzlement because they’ve been trained for decades to think only in terms of financial products.

Let’s look at a specific example. This is for my own parents, who turned 65 last year. (That puts them just before the Baby Boomers.) They live in a nice suburb outside of New York City, on the coast of Connecticut. Like many older people, they would like to stay in the house they have owned for about 20 years now, in the…