After a lifetime of hard work, two-plus years of dealing with COVID-19, and the current uncertain stretch of economic rockiness right around the curve, many older adults are chomping at the bit to exit the 9-to-5 hustle. Pronto.
But, for more Americans, the idea of retirement seems like it could be a long way off. Housing prices have skyrocketed since the start of the pandemic—making the time-honored strategy of selling the family home, downsizing into a cheaper forever abode, and banking the extra equity way less assured. Stocks and bonds have dropped significantly, also eroding many nest eggs, and inflation is rising at the fastest pace in more than 40 years.
Those compounding factors have led some experts to say that 2022 is a “dangerous time to retire.”
After a lifetime of hard work, two-plus years of dealing with COVID-19, and the current uncertain stretch of economic rockiness right around the curve, many older adults are chomping at the bit to exit the 9-to-5 hustle. Pronto.
But, for more Americans, the idea of retirement seems like it could be a long way off. Housing prices have skyrocketed since the start of the pandemic—making the time-honored strategy of selling the family home, downsizing into a cheaper forever abode, and banking the extra equity way less assured. Stocks and bonds have dropped significantly, also eroding many nest eggs, and inflation is rising at the fastest pace in more than 40 years.
Those compounding factors have led some experts to say that 2022 is a “dangerous time to retire.”
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