Here’s the Real Reason Americans Are Delaying Retirement

Economic concerns are weighing heavily on America’s workforce. According to a CBS News report, a recent survey by F & G Annuities & Life of adults over the age of 50 found that nearly one in four decided to delay their retirement over concerns about their financial readiness. That’s up about 10 percent from last year. 

The article stated that among the 23 percent in the F&G study who said they plan to delay retirement, “half cited financial uncertainties or economic volatility” as the reason why they intend to continue working; 44 percent said they are worried about inflation, while 34 percent indicated they are worried about a recession or stock market downturn. 

The Seniors Trust is committed to improving the financial well-being of older Americans through the passage of the Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.