We’re more than halfway through 2022, and the trend of “un-retirement” is already taking hold.
The conditions that drive this trend aren’t slowing down. In fact with inflation, supply chain congestion, and shortages all continuing to be a problem, people are bracing for the worst.
This includes retirees. Some people who have worked for decades to enjoy their well-earned time off are considering giving it up. At least for a while longer, staying in the workforce could be the right move.
Is Postponing Retirement the Safest Economic Bet?
As we settle into the second half of 2022, people are already looking ahead to next year. Even retirees who have been responsible all their lives are seeing signs that life may not unfold as they’d planned.
Social Security is still around, but many retirees are finding it isn’t panning out according to their expectations. This has led to two decisions among many seniors.
One is to postpone retirement indefinitely, and take it at a later and unspecified date. The other is for current retirees to reenter the workforce. Un-retirement is a burden for some, even if they like their jobs, but many feel they have no real choice.
Some seniors have found that living off Social Security alone is tougher than they thought. Others want to wait longer to claim retirement in order to get higher benefits. Others take a lower benefit and keep working.
Whether seniors are putting off retirement or giving it up temporarily, they’re doing so because they feel it’s best for them and their families.
Could COLAs Save Seniors From Un-Retirement?
Even if you love your line of work, there comes a time when you want to relax. One way seniors can avoid having to reenter the workforce is if they get higher Social Security benefits.
It’s why we fight for Cost-of-Living-Adjustments (COLAs) yearly, plus reimbursement for years skipped. Will you help our cause?
If you’re interested in this mission, sign our petition, then follow us on Facebook and Twitter.