I understand that salaries might have been stagnant and with wages not keeping with inflation it doesn't seem to make sense to continue working.

The stock market often aligns with inflation. After all if the companies growth is not beating inflation what exactly is the point really? But that also comes at the expense of not paying people their due worth and incrementing below inflation rate.

But past returns do not guarantee future results. Stock markets ebbs and flows. It will take a blip, not even a crash, to impact those retirement accounts.

IMO this is a risky idea especially if there are jobs available.