What Does Retirement Look Like After a Pandemic

This pandemic continues to set new records in all aspects of our lives including those in retirement age. Understandably, many are less financially healthy than they were a year while others have decided that life is too short and have decided to live on much less.

Will I Ever Retire?

According to SimplyWise Retirement Confidence Index poll taken in January 2021, more than half of all Americans are more concerned about retirement than they were a year ago and 44% think they will never be able to retire. Both of these numbers are much higher than any previous studies.

Retirement Comes Early For Some

On the other hand, nearly 30 million baby boomers are now out of the workforce as of the end of 2020 which is over 3 million more than retired in 2019 according to a Pew Research report. This is more evident for women. Many found the strains as a frontline health worker became too much and the risk too great for those over a certain age. Others simply came to the conclusion that life is too short and looked through their portfolio to decided an early retirement was possible.

Part-Time Retirement or a New Career?

While life slowed down for many during the pandemic without the need for commuting to work or countless in-person meetings, some decided that a life change was in order by reducing hours or retiring and finding another job. Still, others decided to start a new business or go back for more education in a field they always wanted to learn about.

What’s Next for You?

Have you had thoughts about a possible change? Contact WithinU Coaching today to set up a complimentary 30 minute “What’s Next” session. We’ll get to know each other and determine if your goals align with my coaching expertise.  If we agree to move forward, I’ll develop a customized coaching recommendation outlining the program details.