Group 1 - The majority of Americans are anxious about retirement, with 63% expressing concerns about needing to return to work after retiring [1] - Economic factors are significantly impacting retirement plans, with 77% of respondents indicating that the current economic climate affects their retirement timeline [2] - Younger generations, particularly Gen Z and millennials, are facing a different retirement reality, characterized by longer lifespans, less access to defined-benefit pension plans, and greater reliance on personal savings [3] Group 2 - The average retirement savings for Gen Xers is $192,300 in a 401(k) and $103,952 in an IRA, while millennials have averages of $67,300 in a 401(k) and $25,109 in an IRA, which are below the perceived need of $1.26 million for a comfortable retirement [4][5] - A significant portion of baby boomers (88%) are currently working, and 23% of retirees are considering temporary work for additional income, indicating a trend towards "unretirement" [5]

Core Insights - A growing trend among retired baby boomers is "unretirement," where they return to work for various reasons, including financial needs and personal fulfillment [1][2] Group 1: Economic Factors - Economic concerns such as inflation, rising living costs, and market volatility are driving some boomers to re-enter the workforce [2] - However, financial reasons are not the only motivators; many seek social engagement and mental stimulation [2] Group 2: Entrepreneurial Spirit - Many baby boomers view retirement as an opportunity for a "second act," with some starting their own businesses [3][4] - These "second-act entrepreneurs" leverage their previous work experience to create meaningful and profitable ventures [4] Group 3: Social Connections - Retirement can lead to feelings of boredom and isolation, prompting boomers to seek renewed purpose through work [5]