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Many Retirees Plan to Return to Workforce in 2025

Key reasons behind this decision include the increasing cost of living (69 percent), boredom (42 percent), rising housing costs (39 percent), and the need to pay off non-medical debt (34 percent).

Isaac M. O'Bannon

Sep. 17, 2024

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Thousands of retired seniors may soon be returning to the workforce, driven by various financial and personal factors. That’s according to a new survey from ResumeBuilder.com, a resource for professional resume templates and career advice, that looks at the employment status and plans of U.S. residents aged 65 to 85.

Results showed that 13 percent of retired seniors say they’re likely to re-enter the job market next year. Key reasons behind this decision include the increasing cost of living (69 percent), boredom (42 percent), rising housing costs (39 percent), and the need to pay off non-medical debt (34 percent).

“For many new retirees, adjusting to this stage of life involves much more than financial considerations,” says Resume Builder’s Chief Career Advisor Stacie Haller. “I often work with individuals eager to return to work in ways that fulfill long-held passions or offer new opportunities they’ve never had time to explore. The freedom of retirement presents an exciting chance to break out of routines and try something new, which combats the potential boredom that can come from suddenly having more unstructured time.”

The survey also found that 22 percent of seniors are currently employed, and among them, 39 percent have “unretired,” returning to the workforce after initially stepping away. In contrast, 61 percent have continued working without ever retiring. For those who have unretired, the cost of living increasing more than expected (51 percent), boredom (40 percent), and insufficient retirement savings (37 percent) are cited as top reasons for going back to work. Similarly, most seniors who have never retired attribute their decision to either enjoying their work or not having saved enough to retire comfortably.

This survey was commissioned by ResumeBuilder.com and conducted online by the survey platform Pollfish. It was launched in September 2024, and 750 U.S. residents ages 65 to 85 completed the survey. To view the complete report, please visit: https://www.resumebuilder.com/1-in-8-retirees-plan-to-go-back-to-work-in-2025/