Fifty percent of pre-retirees and retired workers are considering delaying or coming out of retirement, respectively, according to the results of a survey from F&G Annuities & Life.
Forty-four percent of surveyed retirees or former retirees surveyed have returned or are considering returning to work, the research found. Perhaps surprisingly, it’s not always about money, the Des Moines, IA-based financial company discovered. Aside from financial worries, among retirees who are considered “unretiring,” F&G noted, half said they enjoy the intellectual stimulation of working. Some others (36%) say they don’t want to feel a lack of purpose from not working.
“Amid inflation, changing workforce dynamics post-COVID and overall generational shifts, Americans are rethinking retirement and extending their time working or, for some retirees, unretiring altogether,” F&G President and CEO Chris Blunt said in a statement.
“While it’s understandable that those facing financial challenges would consider such steps, it’s interesting to see our survey findings underscore how much generations like baby boomers are reconsidering what retirement looks like and what’s important to them, such as finding personal fulfillment and intellectual stimulation,” Blunt added.
Among pre-retiree survey participants, 64% said they are considering or have taken action to delay their retirement. For them, it is largely about finances.
About half of the pre-retiree respondents said they worry they won’t have enough money for retirement. They also are worried about inflation and having an adequate safety net, according to F&G.
“However, there were several nonfinancial issues pre-retirees were considering, too,” the company said. “Specifically, nearly one-third (29%) of pre-retirees are considering staying in the workforce because they love what they do for work and enjoy the intellectual challenge/stimulation from working (27%).”
The survey was conducted online by Directions Research from June 7 to June 16, targeting Americans aged 50 or more years who are financial decision-makers and have at least $100,000 in financial savings of some type.
