Pretty much “retired” versus quit..... investments, savings an two 20+ year retirements stacked, maxed 401’s etcetera ..... People who, worked, saved, invested live within they’re means can retire at 60 years of age when they get to a place in life where money is making money.
I’m betting that most of those quitting they’re jobs are retiring. KaBoom Boomers !
My opinion only.
Squantos wrote: “I’m betting that most of those quitting they’re jobs are retiring. KaBoom Boomers !”
I quit back in 2015 when I turned 67. Just didn’t need to work any more.
I’m betting that most of those quitting they’re jobs are retiring.”
Lot of our doctor client patients are being riffed because of downturn in oil prices and other related businesses. Many of them are 62-65 years of age and all thus far have indicated they had no plans to quit.
Quitting while the market is up might be wise for Baby Boomers. If I were in their position, I would definitely consider cashing out. Then again, the best may over the horizon.
I believe you’re right; as people see diminishing returns from their paychecks (due to understated/unreported inflation), I’m seeing some private-sector people take early retirement at 62. It may be a regional thing (so they can leave high-cost NJ); any pensions/401Ks and SS may be enough for them to live well elsewhere.
Taxes here in NJ make it very difficult for the middle class to thrive; high wage earners, public employees, and welfarians seem to do well.