Fifty-one percent of pre-retirees aged 50 or more years, as well as some retired Americans, are considering delaying or coming out of retirement, according to the results of a new survey from F&G Annuities & Life.
The overall data are relatively unchanged from a year ago, when the same survey from the Des Moines, IA-based financial company found that 50% of pre-retirees and retired workers are considering delaying or coming out of retirement.
“This remains a challenging macroeconomic environment to navigate for those close to or in retirement,” F&G CEO Chris Blunt stated in a press release issued in conjunction with the report. “As our survey shows, Americans are still reconsidering what retirement means to them, and that may look different from previous generations.”
The generation after the Baby Boom, known as Generation X — with members born between 1965 and 1980 and turning 44 to 59 this year — appear especially concerned about their financial stability in retirement. Seventy-one percent of the Gen Xers who responded to the survey said they are considering or have pushed back their planned retirement date. That percentage is up from 65% last year.
“When asked why members of this generation have considered pushing back their planned retirement date, they cited worries about not having enough money for retirement (49%), inflation (47%), wanting more financial options and a larger safety net (42%) and worries about a recession or stock market downturn (31%),” the company said. “Interestingly, half of Gen X respondents said they were more likely to return to a different industry than the one they previously worked in if they came out of retirement.”
The survey was conducted online by Directions Research from May 1 to May 16, targeting Americans aged 50 or more years who are financial decision-makers and have at least $100,000 in financial savings of some type.
