Retirement was once seen as the end of the road for many individuals—a time to relax, travel, or enjoy hobbies after decades of work. But with life expectancy increasing and retirement savings not always meeting expectations, a growing number of older adults are returning to the workforce, or “unretiring.” Whether for financial reasons or the desire for personal fulfillment, unretirement is changing the way we think about this life stage. In fact, the U.S. Department of Labor reports a dramatic 144% increase in the number of workers aged 65 and older in the past 20 years, with those 75 and over being the fastest-growing demographic in the workforce.
Unretirement, a term that reflects a shift in the traditional retirement model, is not simply a reaction to financial pressures but also a desire for purpose and connection. According to Raf Pereira, founder of Stocks.News, the increase in older workers re-entering the job market is driven by a complex interplay of financial, social, and personal factors, all of which reflect broader economic shifts.
For many, financial reasons are the primary motivator. A significant number of retirees find that their savings aren’t stretching as far as they had hoped, especially with rising costs of living. According to the National Institute on Retirement Security, while many Americans believe they need nearly $1.5 million to retire comfortably, the average retirement savings of most households is only about $88,400. As a result, some retirees are finding that returning to work, even part-time, can help fill the financial gap.
However, financial concerns aren’t the only reason people are choosing to “unretire.” For some, it’s about finding fulfillment and staying engaged. After retiring from his insurance career, Ken Dunn of Acworth, Georgia, turned a hobby into a profitable business. By buying larger-sized clothing and athletic shoes from top brands and reselling them on his Ebay store, Dunn discovered a renewed sense of purpose and satisfaction. His story is just one example of how unretirement can offer both financial benefits and the emotional reward of engaging in a passion project.
Mark McShane, a successful entrepreneur from Paisley, Scotland, felt the loss of work’s rhythm and purpose after retiring. “A big part of my identity was work—the daily rhythm, the purpose and challenge—and its absence was keenly felt,” he said. McShane’s solution was to work part-time as a mentor at a startup incubator, where he could share his expertise while maintaining the flexibility he desired. Mentorship and other part-time roles offer the chance to stay engaged without the full-time commitment. McShane’s experience highlights how unretirement can offer a fulfilling middle ground for those who crave both purpose and flexibility.
Likewise, George Yang, founder of YR Fitness in Shanghai, initially looked forward to a relaxed retirement, but found that “my past career had done more to boost my bank account than nourish my soul.” After several years of retirement, Yang rediscovered his passion for work by mentoring young entrepreneurs. “It brought back my purpose and keeps my mind sharp,” he explained. For Yang and many others, unretirement provides a meaningful way to stay engaged and continue contributing to society while embracing flexibility.
As lifespans continue to increase, the face of retirement is evolving. The shift away from traditional retirement is creating new opportunities for both employers and workers. According to a Harvard Business Review study, multigenerational teams that bring together diverse, complementary skills can lead to greater productivity and innovation. Unretirement offers workers the chance to stay involved, while employers benefit from the expertise and experience that older employees bring.
However, to make the most of this new work model, companies must address potential barriers, such as ageism and outdated workplace practices. Studies show that providing flexible schedules and training programs specifically for older workers can help facilitate their reintegration into the workforce. Employers who embrace these changes can create an inclusive and productive environment for employees of all ages.
If you’re considering unretirement, here are a few steps to get started:
- Evaluate Your Finances: Before returning to work, assess your financial You may want to explore tools like Mint or Personal Capital to track your spending and savings, ensuring you are on track for a secure future.
- Identify Your Passions: Reflect on what you enjoy doing, whether it’s mentoring, consulting, or a hobby that you’d like to turn into a side Websites like Upwork or Freelancer offer platforms for finding freelance and part-time work opportunities that match your skills and interests.
- Stay Connected: Join networks or forums where like-minded individuals gather to discuss unretirement and share You can find such communities on platforms like LinkedIn or even at local business incubators.
The growing trend of unretirement isn’t just about going back to work; it’s about finding purpose, staying active, and adapting to a new phase of life with flexibility. Whether it’s through a part-time business, consulting, or mentoring, unretirement offers the opportunity to live with intention and engagement.
What are your thoughts on unretirement? Have you experienced it firsthand, or are you thinking about exploring this option? Share your story or ask questions on our Age Brilliantly forum. We’d love to hear how unretirement might fit into your future!