| Why do people retire? In economists' view, it's because of a steady rise in real wages, which allow people to accumulate savings, and a decline in the cost of leisure activities, which is what retirees do when they retire. 85% of U.S. men aged 75 to 79 were retired in 2000, up from 22% in 1850; over the past century, real wages have risen about 1.5% per year, and the price of leisure goods such as sports equipment and entertainment tickets has fallen about 1% per year, says Karen A. Kopecky of the University of Western Ontario. |
No comments:
Post a Comment