Bank of America: In recent years, the wealth effect of the US stock market has become evident, and more individuals aged 55 and above are choosing to "return to the countryside."

A recent research memo from Bank of America, citing data from the U.S. Bureau of Labor Statistics, pointed out that in February 2020, the labor force participation rate for individuals aged 55 and older in the U.S. was 40.3%; by July 2026, this figure had dropped to 36.9%. Aditya Bhave, Managing Director of Bank of America Global Research and an economist, stated, We believe this is related to the over 35% cumulative increase in the S&P 500 index over the past two years. In his view, the significant rise in the stock market makes it easier for many who are still uncertain about when to exit to choose to retire. Bhave does not attribute this phenomenon solely to the stock market; he said, No single causal factor can fully explain this phenomenon. But it is clear that the stock market has performed impressively over the past two years. If we consider the market trends since 2020, the S&P 500 index has more than doubled, and this wealth growth prompts some individuals to choose retirement, making them feel 'I dont have to work anymore.'