Many Older Workers Say COVID-19 Changed This Decision
Due to the pandemic, workers are reconsidering a key retirement step.
COVID-19 changed just about everything in America include the way we plan to retire.
Instead of taking Social Security later in life, 3.1 million Americans aged 55 or older now say they will apply for benefits sooner than they planned to before the pandemic, according to U.S. Census Bureau findings.
On the other hand, 1.4 million people in that age group now plan to work longer than they previously expected to, thanks to the pandemic.
Do the math, and the result is a net of about 1.7 million extra early retirements, which could be a boon for younger workers hoping to move up into higher-ranking jobs.
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22 Cities Where Home Appreciation Is Spiking
22 Cities Where Home Appreciation Is Spiking
The annual home value growth rate in these cities is over 10%.
Photo by Hurst Photo / Shutterstock.com
Extreme demand for homes is pushing home values up at a rate not seen since before the Great Recession, a new Zillow report finds.
Several trends including new millennial homebuyers, record-low interest rates, trends related to the coronavirus pandemic and the relatively small pool of homes for sale have converged to heat up the market. The hot sellers’ market is a contrast to flat growth in rental prices nationally, as we reported in “Rent Prices Have Dropped in These 9 Formerly Hot Markets.”