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Why a Falling Stock Market Won't Postpone Retirements

Americans are still retiring at a rapid pace, even in a volatile market.
Source: Huntstock via Getty Images

The baby boomers are getting ready to retire, and they won't let a stock market selloff stop them.

U.S. stocks recently concluded the worst January since 2009 and have continued falling into February. The Standard & Poor’s 500 index is now down 10 percent from its peak last year. You might expect aging boomers to postpone their retirements anxiously after watching stocks tumble. Instead, nearly 403,000 American workers and their spouses were awarded their first Social Security checks in January, the highest monthly total in three years. According to Social Security data, 3.2 million workers and spouses qualified for retirement benefits in the last 12 months, up 3.3 percent from the previous year.