A booming stock market is driving early retirement, as older Americans exit the labor force at a faster pace.
1 hours ago
More and more older Americans are accelerating their exit from the labor force. The labor force participation rate for people aged 55 and above has fallen from over 40% pre-pandemic to 36.9% in July this year. Economists at Bank of America point out that rising wealth is one of the key factors driving this trend. Over the past two years, the S&P 500 index has climbed nearly 40%, and growing balances in 401(k) retirement accounts may have allowed more Americans to retire early.
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