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 Resumebuilder.com – 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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