Retirees returning to work due to inflation and higher bills

65-and-older-workforce-chart The number of Americans working into their twilight years has doubled in the past 30 years

Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”

Important Takeaways:

  • The Great Unretirement: How millions of senior Americans are heading back to work to pay the bills after soaring prices ate up retirement savings
  • When Joyce Fleming retired in 2019, she thought that she was finished with working.
  • But just a few years later, spiraling living costs have pushed the 70-year-old nurse back into the workforce in order to make ends meet.
  • The price of everyday essentials, car ownership, insurance and housing have soared in the last few years, driven by rampant inflation.
  • And she is by no means alone. One in eight retirees plan to return to work in 2024, according to a survey by – amounting to approximately 6.25 million Americans.
  • A recent study found that $1 million in retirement will only last just over 10 years in some states.
  • Nowhere in the US would the savings last longer than 22 years, 8 months and 12 days, the analysis by GOBankingRates found.
  • Experts recommend deferring taking social security as long as you can as claiming early results in a lifetime reduction in payments.

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