More workers consider delaying retirement

DES MOINES, Iowa -- July 16, 2025 – More than two-thirds (70%) of pre-retirees over 50 are considering or delaying their planned retirement date, according to a new survey from F&G Annuities & Life. F&G’s third annual Retirement Reconsidered survey explored how the current market environment is impacting decisions leading up to and into retirement.

In fact, nearly a quarter (23%) of pre-retirees said they are definitely pushing back their planned retirement date, up 14% from 2024 – reflecting growing concerns about overall financial retirement readiness. Reasons cited for delaying retirement include:

• 48% are worried they won’t have enough money for retirement
• 44% are worried about inflation
• 42% want more financial options and a larger safety net
• 34% are worried about a recession/stock market downturn

 

Economic volatility leads to concerns over retirement financial readiness

Amid turbulent economic shifts, Americans over 50 remain cautious with their finances and decisions about their retirement. Half of respondents (50%) cite financial uncertainties/economic volatility as the reason they are considering unretiring or are pushing back retirement – a 10% increase from 2024 (40%).

Moreover, nearly a third (29%) of retirees say they are considering a return to work or “unretiring.” The number jumps to 54% when looking at younger or early retirees in Generation X, compared to their older Baby Boomer counterparts (28%). When examining why retirees would rejoin the workforce, it’s split between financial and personal reasons:

• 42% enjoy the intellectual challenge/stimulation from working
• 40% would like to have more financial options
• 36% are worried about inflation – vs. 44% in 2024
• 33% don’t want to feel a lack of purpose

 

To help ride out this economic and financial uncertainty, 49% of American investors said they feel the need to invest/increase investment in products that deliver guaranteed income for the future.

“The current economic environment is creating significantly more stress and uncertainty for younger American investors, leading many to rethink their timelines for retirement as our third annual study shows,” said Chris Blunt, CEO of F&G. “This shift means Americans near and in retirement are more likely to be working longer or delaying retirement altogether. Amid this dynamic, the need for guaranteed income from products like annuities becomes increasingly important to maintain a quality of life they are accustomed to through retirement.”

No straight A’s in retirement

When asked to grade facets of their retirement plan, American investors are not giving themselves the highest marks.

When grading their financial readiness in preparing for/in retirement, 32% gave themselves a C or below, vs. only 26% who gave themselves an A. The mark decreases when asked how they would grade social connections in retirement, with 41% marking a C or below vs. just 22% who gave themselves an A. When it comes to personal fulfillment in retirement, 28% of respondents rated themselves an A, while another 28% gave themselves a C or lower.

These self-assessments underscore that making retirement decisions is a big deal, though not everyone is consulting a financial professional before making those decisions.

Despite the lower grades, nearly half (47%) of American’s over 50 are still not currently using a financial professional, up from 43% last year. Among Gen X, the number is even higher – over half (54%) are not leveraging a financial professional vs. 49% in 2024. Surprisingly, only 15% of retirees said they would consult their financial advisor before returning to the workforce, suggesting that many American investors are making financial decisions independently from a financial professional.

Outside of financial stability, when asked the extent to which their financial professional places or has placed an emphasis on fulfillment when planning for retirement, 29% of American investors put little to no emphasis on this front.

“Financial professionals play a key role in advising investors on how to meet both personal and financial goals,” added Blunt. “Retirement isn’t just about how much you have saved, but what your life will look like in retirement, whether you are working part-time because you need the money or enjoy it for personal reasons. Financial professionals have an opportunity to help more Americans aim for an ‘A’ in retirement by guiding them to align their financial plans with the kind of life they truly want in their later years.”

For more information on F&G’s latest survey, please visit fglife.com/research.

 

Survey Methodology

This survey was conducted online by ROI Rocket. The survey was fielded from May 9th to May 26th, 2025, among a nationally representative sample of 2,000 U.S. adults. Respondents were Americans ages 50+, who are financial decision-makers and have $100K+ in financial products/savings.