Small Business Labs

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The Pandemic Accelerated Boomer Retirements

Small Business Labs

Louis found that the pandemic pushed about 3 million baby boomers to retire earlier than they would have otherwise. As the study chart below shows, the share of retired Americans has surged since the start of the pandemic, and is well above the trend line. The research note points out many of the excess retirees may not stay retired

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Purpose and a Paycheck and the New Retirement

Small Business Labs

Purpose and a Paycheck is a new book from Chris Farrell, a leading expert on retirement and workforce issues facing people over the age of 50.    Lots of research, much of which is cited in the book, shows that staying engaged and active in retirement leads to greater levels of health and happiness. 

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More on the Changing Nature of Retirement

Small Business Labs

There's been a recent flurry of articles on retirement, mostly focusing on older people staying in the workforce longer than prior generations. An examples is Harvard Business Review's When No One Retires. It covers a new retirement community named after and based on the Jimmy Buffet song Margaritaville.  

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Yet More on the Changing Nature of Retirement

Small Business Labs

We've covered the changing nature of retirement so often in our Baby Boomer section we feel like we're feeding a fed horse by covering it again. But it's an important trend and there continues to be a flurry of interesting articles on working in and/or delaying retirement. But that doesn't necessarily lead to happiness.

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Half of U.S. Full-Time Employees Plan to Defer Retirement Due to Financial Reasons

Small Business Labs

It shows that 52% of the full-time employees surveyed said they plan to postpone their retirement due to their financial situation. We've long often covered the trend towards delayed retirement ( see our baby boomer section for many articles on this topic ). These are the people who should be the best prepared to retire

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Small Business Owners Getting Older and Not Planning to Fully Retire

Small Business Labs

Also interesting is Barlow's findings on small business owner retirement plans. In general, small business owners are not the retiring type. They found average small business owner with plans to retire is planning on retiring at age 67.  Also, only 68% of small business owners report plans to retire.

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The FIRE Movement (Financial Independence, Retire Early) and Independent Work

Small Business Labs

The New York Times article  How to Retire in Your 30s With $1 Million in the Bank nicely covers the " growing movement of young professionals who are intently focused on quitting their jobs forever." " It's called the FIRE movement and the acronym stands for Financial Independence, Retire Early.