Photo: Spencer Platt/Getty Images
Inflation has not only changed consumer habits in the United States, but also forces an increasing number of workers delay your retirement plans.
Workers approaching retirement age see an increasingly complex picture, as high prices challenge their budgets on the one hand and, on the other, job market volatility puts their careers in doubt.
The result is uncertainty that has led them to delay and, in some cases, to cancel your retirement plansaccording to analyzes carried out by the AARP organization, focused on the needs of workers aged 50 and over.
“With inflation and the cost of living on people’s minds, many seniors are choosing to delay retirement,” Carly Roszkowski, AARP’s vice president of Financial Resiliency Programming, said in a report for FoxBusiness.
According to this organization, the plan changes now include that workers consider extending their stay in the labor force as long as possible; while, in some cases, they practically think of stay indefinitely.
However, the wave of layoffs that extends from the technological sector to other areas of the national economy, casts doubt on their professional future, so instead of thinking about retirement, workers are looking for side or alternative jobs.
According to AARP, workers look for means of income that can ensure that they can continue to pay for their needs, despite the high prices that inflation causes.
Workers abandon the idea of retiring
A survey conducted by AARP supports the idea that workers are thinking more about how to get an additional job in the face of high prices, than about withdrawing from the labor market.
According to the organization, 50% of workers aged 40 or over expect you to continue working after retirement or that “he will never retire.”
Regarding additional jobs, the AARP survey shows that 27% of workers said they is self-employed or that you have a freelance job.
Of this number, 89% said their main motivation for holding down a second job is earn extra moneywhile 87% responded that flexible work schedules motivated them to work.
“For those who retired during the pandemic and have returned or are considering returning to the workforcePartly freelance or freelance jobs are attractive, because they give people the opportunity to set their own hours and be their own boss,” Roszkowski added.
But workers close to retirement age are nervous about the unstable work environment and this is demonstrated by the 30% who said they think that you will lose your job in the next year.
You may also like:
– After the wave of massive layoffs, it’s up to CEOs to cut their salaries
– Why Fidelity’s 45% rule could be an option for retirement savings
– The generation of baby boomers would inherit $53 billion dollars to the next generation in the US.