Surge in Early Retirements Exposes Inequalities Among U.S. Baby Boomers

Bloomberg, June 3, 2021–Alexandre Tanzi
The Covid-19 health crisis is creating two classes of early retirees. People who have investments are taking advantage of the unprecedented surge in shares and home values to enjoy their silver years. Meanwhile, many low-paid workers without much retirement savings found themselves forced out of their jobs with little prospect of finding employment again. Retiring before the full retirement age will result in a cut in their Social Security benefits, by as much as 30%.