Is It Time to Unretire?

On this episode of Better Money Boston, Nicholas J. Colantuono, CFP® discusses the statistic that 40% of retirees over the age of 65 have returned to work. Each day, 10,000 people reach age 65, a trend that is projected to continue on for the next 20 years.

In some cases, people retired in the midst of the pandemic. Now, two years later, those same people may be forced to return to the workforce to keep their current lifestyle. A financial factor that plays a role here is inflation. People are finding themselves spending more and more on necessities like gas and groceries, and just can’t keep up with the expenses. Emotional factors can also play a role in unretirement. Some retirees are faced with boredom from being at home all day, some miss the socialization aspect of being in the office, and others want to pursue a job that is their passion but may not have been their career.