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The pandemic sparked a wave of older workers retiring in 2020, according to Pew Research. However, many early retirees don’t have the resources for making the jump. Those weighing early retirement need to review their income, savings and health care coverage, financial experts say.
Some 28.6 million boomers said they were now out of the workforce due to retirement as of the third quarter of 2020, out of total national cohort of about 71.6 million. That is 3.2 million more than those who said they were retired during the same period in 2019, according to a Pew Research report. “Maybe for some, they faced their mortality and figured ‘why am I going to work if my life expectancy could be curtailed by this pandemic?’ I’m sure that hit a lot of people,” said Paul Gaudio, certified financial planner and wealth planning strategist at Bryn Mawr Trust in Princeton, New Jersey.
https://www.cnbc.com/2021/05/09/the-pandemic-drove-these-americans-into-early-retirement.html
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