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More and More Americans Are Being Offered to Retire Early Due to the COVID-19 Pandemic

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Rear View of Elderly Man Sitting on Chair in Early Spring Park | More and More Americans Are Being Offered to Retire Early Due to the COVID-19 Pandemic | Featured

On “Fox News Rundown,” Gerri Willis said that more Americans have the option to retire early. He said this has happened due to the economic setbacks of the COVID-19 pandemic.

“This is fascinating. These numbers are sky-high,” she said on the podcast. “We didn’t really understand the number of people that were being offered early retirement. And it’s still not entirely clear. But what is clear is that there is a greater proportion of people going into retirement than we thought.”

According to Willis, Americans in their 40s and 50s receive offers for early retirement. It comes as many industries, such as retail and restaurants, can no longer afford payroll.

“She said they have to reduce it so this serves as their answer.. “They’re going to get rid of a lot of personnel, especially older personnel, and double down on younger workers.”

As per David Rae’s Forbes article in April, “under normal circumstances, millions of Americans have had to retire early. With the economy at a near standstill due to the COVID-19 stay-at-home orders, many workers may be forced into early retirement.”

Willis says a COVID-19 vaccine will be the reason for an economic pickup and the “saving grace” for retirement programs.

“I think the real saving grace for retirement programs and for people’s savings is going to be that vaccine — is going to be the economy picking up in the wake of a vaccine and people being able to get back to work,” she said. “I think that’s really the secret sauce that is going to make all the difference here.”

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