Partial retirement wasn’t all that common in 1960. More than 50 years later, a substantial percentage of people now hold a “bridge” job before they stop working for good.
Partial Retirement Is Starting Earlier
More workers are slowing down earlier, too: 15 percent of those 60 to 62 years old are partially retired. According to the University of Michigan report, in 1960, partial retirement among this younger group was “virtually non-existent.”
One Reason: Higher Unemployment
More people are also apt to exit the labor force during times of high inflation, possibly because wages don’t keep up with the increased cost of goods and services, according to the study.
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