lifestyle leader

Maybe we can count a reporter at the LA Times as one of our loyal readers because, a mere two days after I speculated on the impact of the financial crisis on retirement, the newspaper has reported that early retirement claims are running well ahead of expected rates (with 25% more than last year). And it's not likely that our baby boomers have been overcome by an irrepressible desire to golf:

Many of the additional retirements are probably laid-off workers who are claiming Social Security early, despite reduced benefits, because they are under immediate financial pressure, Goss and other analysts believe.

A similar story appears to be unfolding in Canada, where pension plan rules are going to be revised to make it easier to claim benefits sooner (although at a reduced level). In other words: we're going to see a prolonged set of costs for the economy, government coffers, and families who are affected by this surge in experienced workers taking early retirement.