Affluent Americans are retiring as pandemic changes priorities
Covid-19 has treated the wealthy differently, and many, well below usual retirement age, are asking ‘Does it all matter as much as you think it does’
Washington/Atlanta — After a year of early-morning Zoom calls, the spectre of a deadly virus and soaring stock and real estate values, working American baby boomers who can afford it plan to get out while the getting’s good.
About 2.7-million Americans age 55 or older are contemplating retirement years earlier than they’d imagined because of the pandemic, US government data shows. They’re more likely to be white, a group that typically has a larger amount of accumulated wealth, and many cite robust retirement accounts and Covid-19 fatigue for their early exit, according to interviews with wealth managers and federal surveys...
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