Half of retired and pre-retired Americans are considering going back to work or delaying retirement, according to a survey of roughly 2,000 adults conducted by insurance provider F&G Annuities & Life, and the reasons aren't limited to finances.

While financial concerns are often the most-cited reason for people to put off retirement, the survey results offer a few surprises. Of the 44% of retirees who have chosen to go back to the workplace, or "unretire," 50% cited the intellectual stimulation that work provides as the biggest reason for doing so. Another 36% said they don't want to feel a lack of purpose while in retirement.

Among pre-retirees, almost two-thirds, or 64%, are either considering or have taken steps to postpone their retirement. Here, financial concer✤ns were the biggest reason, with just over half (52%) of pre-retirees saying they might not have enough money to retire comfortably. A similar share (51%) cited inflation, while 43% said they wanted more financial options and a bigger safety net before dropping out of the workforce.

The financial concerns follow one of the most difficult years in recent memory for retirement savings. In 2022, amid the highest inflation in four decades and a bear market, an estimated 41% of Americans stopped putting money into retirement accounts such as 401(k)s and IRAs, while nearly a third (32%) withdrew money from their accounts to cover the higher cost of living, the results of a U.S. News and World Report survey showed.

The average 401(k) balance 澳洲幸运5官方开奖结果体彩网:fell 20% last year, to $103,900 from $130,700 at the end of 2021. It's up 8% so far in 2023 to $112,400 as of the latest quarter, according to Fidelity.

Despite financial challenges, a sizable share of pre-retirees also cited non-financial reasons for delaying retirement. Almost a third (29%) of pre-retirees said love for their job could keep them in the workplace for longer, while 27% enjoyed the intellectual stimulation from working. Taken together, 40% of retirees and pre-retirees said the prospect of putting off retirement isn't just about money.

"Amid inflation, changing workforce dynamics post-COVID, and overall generational shifts, Americans are rethinking retirement and extending their time working, or—for some retirees—unretiring altogether," said Chris Blunt, President & CEO of F&G.