A national personal interview survey, repeating the core questions asked 10 years earlier on retirement plans, finds the previously recorded “age effect” to be apparently neither an age nor a cohort effect. Indeed, the new data point toward a “period of history” effect dominating changes in plans to retire early. A cohort entering the labor force at perhaps the most propitious time in history has a larger-than-expected proportion planning to retire early, presumably because they can afford it.
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Barfield et al. (1978) studied this question.