A record number of Americans are quitting their jobs. Here’s how they make money after they quit.

In discussing the surge of workers quitting or retiring during the coronavirus pandemic, one question that I keep hearing, and that I asked last week, is: How are people who abruptly quit or retired from their jobs getting by financially?

Most of the departing workers I heard from had also asked themselves that question, but they had decided that they could more easily give up their paychecks than their well-being.

Some retirees said that although the pandemic nudged them into retirement faster than they expected, it also brought relief from the expenses incurred in pursuing their careers.

“I [no longer] need to buy clothes or shoes for work, fill the gas tank three times a week, pay for parking, etc.,” wrote Sandy Marasco in an email. After being laid off from her pharmaceutical industry job in Cambridge, Mass., early during the pandemic, Marasco used her severance package to pay off her mortgage.

She then lived off her savings and state unemployment benefits through 18 months of unsuccessful job-searching before realizing that her earlier goal of working full-time until age 70 no longer appealed to her. Marasco now gets by on Social Security and a 401(k) retirement plan.

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Source: MSN