Crazy Market
“Everyone understands that the market went crazy last year,” said Barish, who advises 155 clients as a partner at Murphy Matza Wealth Management in Raleigh, North Carolina. “If they’re not in love with their career, the natural question is, ‘Can I go?’ That emotion absolutely ebbs and flows with a client’s perceived bottom line.”
The U.S. jobless rate fell below 7 percent at the end of last year for the first time since 2008, helped by an exodus of retirees that has shrunk the labor force, Fujita wrote in his analysis, revised in February. Unemployment dropped even further in April, to 6.3 percent.
Since the start of the bull market in 2009, the number of those 55 and older leaving the workforce has increased by more than 2 percent each year, the fastest clip since the technology bubble of 2000 and outpacing a 10-year average rate of 1.3 percent through 2008, according to the Bureau of Labor Statistics. In 2008, growth for the same age bracket was 1.4 percent, a slower increase than the previous year’s 1.7 percent gain, the data show.
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