The Post-Retirement Job: Nearly Half of Retirees Have Thought About It, But Now's Not the Time

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New Research from Retirement Finance Leader Longevity Alliance Reveals When Certain Retirees Would Go Back to Work - And Why

Personal finance and healthcare coverage are drivers for retirees re-entering the workforce.

As economic conditions improve they should keep their eyes out for opportunities they might consider for either personal enjoyment and/or to respond to retirement income and health expense financing concerns.

When they first left their jobs, many retirees thought they might go back to work someday, according to new national opinion research commissioned by retirement finance leader Longevity Alliance. But the research also shows that few of them are considering re-entering the job market any time soon.

The national survey, conducted by Harris Interactive, polled nearly 400 U.S. adult retirees and found that:

  • Among retirees, 43 percent of them "seriously considered the possibility of someday going back to work" when they first retired.
  • Only 16 percent of retirees say that they are currently considering leaving retirement.
  • "Changes in personal finance" is a major consideration that would force a retiree to think about going back to work, with 42 of percent of retirees citing it as a factor.
  • "Changes in healthcare coverage" is also important, at 29 percent.
  • More than one in five retirees (22 percent) are thinking about how their lifespan could affect whether they go back to work.

"These findings reflect the same kinds of sentiments we've been hearing from our customers," says Longevity Alliance CEO Steve Zaleznick. "Retirees are very cautious right now, but not panicked. Their reluctance to rejoin the workforce only underscores the need for them to plan very carefully for the rest of their retirement."

"People understand that situations change and they are often open to going back to work for a variety of reasons," he continued. "As economic conditions improve they should keep their eyes out for opportunities they might consider for either personal enjoyment and/or to respond to retirement income and health expense financing concerns."

The new data and public outreach are a part of Longevity Alliance's "Milestones" campaign, which is intended to help Americans make better decisions about their retirement finances. Previous topics have included: the hidden costs of moving, using an online quiz to better plan retirement, the tax benefits of long-term care and baby boomers' decreasing confidence in the longevity of their retirement finances.

About Longevity Alliance
Based in Washington, DC, and with a customer contact center in the Phoenix, Arizona area, Longevity Alliance Inc. helps Americans find the right products to meet their retirement planning needs by surveying the marketplace and contracting with high quality financial and insurance companies to provide consumers with a range of choices in each product category. Longevity Alliance is staffed with experienced senior executives in aging, insurance and financial services who have spent decades working for the biggest names in products and services for aging Americans. The company also publishes Momentum¸ a monthly newsletter dedicated to helping Americans live longer, better lives. Consumers can sign up for a free online copy at http://www.momentumtoday.com. For more information, visit http://www.longevityalliance.com.

About the Survey
This survey was conducted online within the United States by Harris Interactive on behalf of the Longevity Alliance from April 22 to 24 among 2,419 adults ages 18 and older, of whom 388 are retired. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Brendon Shank.

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BRENDON SHANK
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