It was only five years ago that people were regaling me with their plans for "early retirement" at age 62 or 60 or even in their 50s! After all, back then, their 401(k) portfolios were soaring, and so were the market values of their homes.

What a difference a recession and market crash have made on the national psychology! Now people are asking: "Will we ever be able to retire?"

The answer to that question triggered a new edition of my latest book, "The New Savage Number." And the answer remains the same: Yes. You can and will retire -- but you will have a different definition and time frame for that decision.

The question has changed from "How much do you need?" to "Is it possible?" But just as Americans were too optimistic about their retirement prospects a few years ago, I believe we have become far too pessimistic about the future.

It's not "game over" for America -- or for your retirement plans.

I have not changed my fundamental belief in the future growth of the American economy and, with it, the stock market. And the stock market is the one way you can have access to participate in all that growth and build your own wealth.

I'm not a market timer, as you know from reading my columns and books over the years. But when the extremes of either pessimism or optimism sway the greatest number of people, it's time to stand back and rethink your position.

The pendulum always swings to extremes.

In the past decade, we've moved from an extreme of optimism about having it all to an extreme of negativity about America's potential to survive and prosper. Now you see why it's so important to have a disciplined financial plan.

Let's agree on one thing: If the pessimists are correct, then it really doesn't matter how your investments are structured. If it's the end for America, then you don't need to worry about the value of your stock portfolio!

But before you give up on the future, take a closer look at history. America has been though tough times before -- and we always have come back stronger and growing. But every generation must learn this for itself. It's not just the lessons of the Depression in the 1930s, which now seem like ancient history. Continued...