What’s Fueling the Unretirement Trend?

A growing number of retirees are reentering the workforce – and older Americans who are still working are delaying retirement or fearing they will never be able to retire. According to an article by MoneyWise, while some seniors opt to continue working for personal fulfillment, social interaction, or healthcare benefits, inflation is keeping many workers employed far longer than they anticipated or sending them back to work. One study found one-fifth of seniors returned to work because of the high cost of living.

The article points out that unretiring – going back to work – might be the only option for some seniors stating: “If you have little savings and your Social Security benefits don’t stretch far enough, you’re better off getting a paycheck than spending down your investment accounts and ending up with nothing in the bank later in retirement when working becomes more difficult.”

The Seniors Trust is committed to improving the financial well-being of America’s retirees 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 COLA, increased minimum benefits, and will ensure the long-term solvency of the Social Security program.