Erica Pandey, author of What's Next
Reproduced from Miguel Faria e Castro and the Federal Reserve; Chart: Axios Visuals
The pandemic pushed more than 3 million baby boomers into premature retirement, according to a new analysis from Miguel Faria e Castro, a senior economist at the St. Louis Fed.
Why it matters: The wave of early retirements is contributing to the labor shortage that's roiling the U.S. economy.
What's happening: Many older workers faced layoffs, and others left the workforce to protect themselves from the risk of infection.
It's much harder for workers in their 50s and 60s — or older — to re-enter the workforce after a period of unemployment, due to persistent ageism in corporate America.
So it's likely that many of those who left jobs got discouraged and chose to retire instead.
Older workers also may have built up a financial cushion during the pandemic and chosen to retire, Faria e Castro notes.
"The COVID-19 recession was abnormal in the sense that it featured a sharp downturn in real economic activity but also rising asset values, such as for housing and stocks," he writes. That may have made early retirement possible for many.
The big picture: The early retirement wave isn't the only trend chipping away at labor force participation. The total number of people who left the workforce during the pandemic — including the 3 million early retirees — is around 5.25 million, per Faria e Castro's analysis.
That includes working mothers who left jobs to care for kids and immunocompromised people who stayed home from work for their health.
What to watch: That 5.25 million number could shrink significantly as pandemic-era factors keeping people out of work go away. Some early retirees could also come back to the workforce.
See Bali Distress Properties Discount 20 % to 50 % off
Next real estate demand for Bali Baby Boomers.
Editor's Comments:
As a baby boomer I understand how baby boomers think and more importantly how they invest .
As it points out here and I've been saying for decades Baby Boomers represent 25% of the population of the world but they have 50% of the cash.
With more and more Baby Boomers retiring each year and now due to COVID -19 retiring even earlier than expected there is going to be a new demand on real estate and won't be for large three- and four-bedroom homes.
They rather have a small home near where all their grandchildren are and another home where they can spend the cold winter months. Someplace like Bali.
A recent survey that we did concluded that the Baby Boomers can live 60% to 70% less expensive in Bali than they can in their home countries in cities such as Australia, Singapore, Tokyo, Seoul or any Canadian or U.S.A. city.
If they can live in Bali six months to nine months of the year and then go home for the nicer weather in their home country and visit grandchildren and children they will be happy.
In fact, they will have no problem having their grandchildren and children visit them here. Everybody wants to come to Bali.
Therefore, we have been focusing on meeting the needs of retirees for almost 17 years starting with our Bali Luxury Villas starting as low as $300,000 or our brand-new two-bedroom two bath with a private pool Luxury Villas 200 m from the beach that every grandparent grandchild and child will love, starting as little as U.S.D. $223,000
Check them out below.
Bali Luxury Retirement Villas 2.98 Milyar
Pretty well everything you need to know including location, prices, and designs plus information on Bali and Bali retirement visas is available on our web site https://www.baliluxuryretirementvillas.com.
The following is available on our website:
Features of © Bali Luxury Retirement Villas as low as * $184,888.
•100% legal for foreigners.
• Includes leases totaling 80 yrs.
• Private carport included.
• Private 8 m (27 Ft.) pool** for leisurely laps.
• Only 200 Mtr. To a fabulous beach, restaurants, beach clubs.
• Great investment for you and your heirs.
• Private Housekeepers & drivers, only $200 MTh.
• Healthcare at a fraction of Western costs.
• Brand-new hospital within five minutes.
• Award-winning international Airport 35 min.
• Proximity to Sanur, Ubud, Denpasar.
• Walking distance to affordable restaurants and beach clubs
• Shared low costs of pool man and gardeners.
• Minuscule monthly common area fees.
• Managed by 15-year-old, Hall of Fame award-winning management company.
• *Price of the least expensive villa in U.S.D. after $10,000 Discount
for the first two villas only. Subject to change without notice.
• **Eight-meter first-class swimming pool Only U.S.D. $28,888 Extra.
Developed and managed by 14-year-old Hall of Fame award-winning Bali company.
Summary:
These villas offer you an opportunity to own a luxury home on arguably the Best Island in the world with some of the greatest weather, lowest cost of living, clean air, and friendliest people.
Profit Now Move in Later:
You may not be ready to pack up and move to Bali in the next few years.
So, you may purchase now at these ridiculously low prices and we can normally rent them out for you for a monthly income of $1,500 to $2,000 U.S.D. per month.
Our 15-year-old “Hall of Fame” the award-winning management company that manages villas for V.I.P.s such as the former director of General Electric and Ritz Carlton can provide substantial net monthly income to supplement your pension while providing a carefree rental unit.
Confused? We understand that you may have concerns that we may not have even thought of, so feel free to ask whatever questions you wish.
We do not want you to even think about purchasing our © Bali Luxury Retirement Villas unless you are 100% convinced that they are safe, and perfect for you and your family.
Limited Offer: Save $10,000:
As with any new project we are anxious to sell the first few villas.
We have one already on hold and are only willing to offer one other villa at a $10,000 discount. First come first serve.
Free Stay in Luxury Estate:
If you wish to fly over and see the location first after you place a USD 2,000 Deposit we will offer you free accommodations in a 4 bdrm. 5 bath luxury beach view estate with a private 14 m pool for three days within walking distance of the location.
When you decide to conclude the purchase, we will extend the free estate accommodation for an additional four days.
Should you decide not to continue with the purchase we will refund your $2,000 Deposit minus $200.00 for the three-day stay.
Thank you for taking the time out of your busy schedule to review this information and information on the website. If there is any further information we can provide you please do not hesitate to ask.
Cheers, THE SALES TEAM © Bali Luxury Retirement Villas
PLEASE CALL OR EMAIL US: Tel: 62-361-284069 Mobile or Whatsapp 62-812-3814014 Email: infoBLRV@gmail.com
P.S. We also have several larger villas available from two-bedroom to four-bedroom starting as low as $158,888. www.baliluxuryvillasales.com
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