Retirement Revolution Unexpectedly Is Boosting Economy
Friday's news that 225,000 new jobs were created in January confirmed that the economy and stock market are unexpectedly benefiting from the retirement revolution. Yet that's not in today's headlines and likely won't be tomorrow. Here's an analysis of data released this past week that focuses on what's important to your financial well-being.
Demographers and economists never figured on so many people choosing to continue to work past age 65. It's a significant economic surprise. The fact that many more people over 65 are staying in the labor force beyond what was expected is the proximate cause of the unexpected goods jobs numbers and recent stock market highs.
Given Friday's data, it may seem pretty obvious that the retirement revolution is boosting the economy. Yet it isn't making financial news headlines.
© 2020 Advisor Products Inc. All Rights Reserved.