Retirees returning to work as inflation continues to rise
TOLEDO, Ohio (WTVG) - Retirees going back to work is not unheard of, but just within the past few months, it’s starting to become more common.
According to the job site Indeed, 3.2 percent of retired people returned to work in March 2022 alone.
13abc took to Facebook to ask viewers if they or someone they know went back to work after retiring because of the rising inflation.
The post received over 170 comments, most with people replying yes to the question.
Tony Braden was one of them.
“I turned 62 and took my social security early,” said Braden.
He decided to retire from his job as a painter.
“I figured everything would be okay with the little savings I had,” Braden said.
Just one year later, as costs slowly began to rise, Braden realized he had to rethink his initial plan.
“You deplete all your savings with this extra spending and how do you replenish it?” said Braden. “So, you got to go back to work.”
Someone else messaged 13abc and said he believes people might say he should have planned better, but for him, it has nothing to do with planning. He said he will do whatever it takes to support him and his wife of 40 years.
AARP writer John Waggoner confirmed they too have been getting some phone calls about members experiencing this exact situation.
“We don’t have firm numbers on how many people who have retired have gone back to work, but inflation is a driving factor,” said Waggoner.
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