More Americans Delay Retirement Over Economic Worries, New Survey Finds

A rising variety of People are rethinking after they’ll retire, as monetary uncertainty pushes many to delay plans. A brand new survey from F&G Annuities & Life reveals that almost 1 in 4 pre-retirees, 23 %, are planning to retire later than anticipated, up considerably from 14 % final 12 months.

Considerations fueling this shift embody fears about inadequate retirement financial savings, the need for extra monetary flexibility, inflation, and worries over a possible market downturn.

The stress isn’t simply on these nearing retirement. In keeping with the identical ballot, practically 30 % of People total are contemplating going again to work. The proportion is even greater amongst early retirees from Technology X, the place 54 % are open to rejoining the workforce. Amongst child boomers, that determine is 28 %.

“The present financial surroundings is creating considerably extra stress and uncertainty for youthful American buyers, main many to rethink their timelines for retirement, as our third annual examine reveals,” stated Chris Blunt, CEO of F&G.

He emphasised that this development is reshaping retirement for a lot of: “This shift means People close to and in retirement usually tend to be working longer or delaying retirement altogether.”

Blunt added that in mild of this, dependable monetary instruments have gotten extra essential: “Amid this dynamic, the necessity for assured earnings from merchandise like annuities turns into more and more essential to keep up a top quality of life they’re accustomed to by way of retirement.”

The survey polled 2,000 U.S. adults between Could ninth and Could twenty sixth.