This week’s theme on the Retirement Quick Tips Podcast is: Retire…Never?

Today, I’m talking about how the pandemic has altered many retirement decisions - in 2 very opposite directions.

Retiring early - 1 million extra people retired each year of the pandemic from 2020-2022, so there was a huge boom of people retiring earlier than expected. Reasons - Financially possible, fears about getting sick or dying of Covid if they kept working. Many viewed the risks outweigh the rewards of continuing to work and called it quits. 

But for many Americans close to retirement, the pandemic has had the opposite effect, especially for people with jobs that allow for remote work. 

Many older Americans are still very much in demand, with the tightest labor market in decades. Many people have the opportunity to be part time or full time remote. I have a client who used to have an hour each way to commute to his job. Then covid hit and he’s been fully remote for 3 years now, and has no plans to retire until they tell him he needs to come back to the office. 

He may never need to, and ditching his commute while simultaneously having more flexibility to travel and take time off because of his remote work setup, shifts how he thinks about continuing to work. 

It’s much more sustainable for Americans now who maybe enjoyed their work, but didn’t enjoy their commute. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.    

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance