Why retirement may be harder to reach for many older Americans in 2026

Core Insights - Many older Americans are reconsidering retirement due to financial uncertainties, with some opting to "unretire" to ensure financial stability [1][2][5] Group 1: Financial Concerns - A significant number of older Americans live paycheck to paycheck, with many lacking sufficient savings or pension plans, leading to a reluctance to retire [2] - Surveys indicate that nearly two-thirds of Americans fear they may need to return to work, while only 58% believe their savings will last through retirement [5] - The US Bank's 2025 Wealth Report highlights that 37% of working adults are actively preparing for retirement, but many still express concerns about their financial readiness [9] Group 2: Employment Trends - The labor force participation rate for Americans aged 75 and older is projected to grow by over 96% by 2030, indicating a trend of older individuals remaining in the workforce [6] - A ResumeBuilder.com survey found that nearly one in eight older Americans plan to rejoin the workforce in 2026 or have already done so, with over a third not planning to retire until the next decade [4] - The unretirement rate has declined from 3.2% in late 2018 to 1.9% by mid-2024, suggesting challenges for older workers re-entering the labor market [6] Group 3: Social Security and Healthcare Concerns - Over a quarter of older workers express anxiety about potential changes to Social Security, while a fifth are concerned about Medicare changes [12] - High living costs and inflation have prompted many older Americans to continue working, with 54% citing these factors as reasons for remaining in the workforce [11] Group 4: Attitudes Towards Work - Many older Americans find fulfillment and purpose in work, with some stating they would continue working even if financially secure [14] - Experts emphasize that returning to work should not be viewed negatively, as it can have cognitive and mental health benefits [15] - There is a call for more robust employment opportunities and support for older Americans to ensure they can work without facing discrimination [17][18]