Finance & Economics

1 out of 3 US seniors plan to work during their retirement

The company surveyed over 1,500 participants ages 60-75


1 out of 3 US seniors plan to work during their retirement. Source:

According to American Advisors Group, a large percentage of older Americans are no longer looking toward a work-free retirement. Indeed, nearly half of seniors (46%) said they plan on working part-time or picking up a side job during their retirement.

After the uncertainty created by the events of 2020, many seniors want to ensure that they will have the financial means and flexibility to enjoy the retirement they had hoped and planned for. While we know that Americans are living longer, this survey illustrates that seniors are working longer into their retirement years too. We're also starting to see a positive shift with our customers who have done their research; they are looking at home equity to fill that cashflow gap so that, instead of working longer, they can enjoy the lifestyles they've spent years building
Martin Lenoir, AAG Chief Marketing Officer 

Along with that, nearly one in five seniors (18%) said they plan to work past the age of 70, and an additional 12% said they do not plan to ever stop working full time.

Seniors may be working more to fund their retirement, but housing expenses are not the main cause. Nearly half of seniors (47%) said that their home was paid off and they live mortgage-free.

Seniors ranked “creating an emergency fund” and “filing for income tax refund” as their top 2 solutions to improve finances. However, neither one of these options could be used to create long-term retirement sustainability.

Meanwhile, seniors own over $8 trillion in housing wealth, which could be used to supplement income for millions of seniors in America.

We’ve reported that over 70% of Americans plan to take domestic trip despite COVID-19.


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