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Retirement Reconsidered: F&G Survey Reveals Half of Americans Are Pushing Back or Coming Out of Retirement

Over 40% of current and former retirees say the prospect of 'unretiring' is not just about money

Half (50%) of pre-retirees and retired Americans1 are considering delaying or coming out of retirement, according to a new survey from F&G Annuities & Life, Inc. ("F&G"), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients. F&G's survey explored how the current market environment is impacting decisions leading up to and into retirement.

While financial worries are among the top reasons Americans are delaying retirement or returning to work (unretiring), a surprising number of Americans cite other, more personal reasons to do so. 44% of U.S. retirees or former retirees have returned or are considering returning to work. In fact, among retirees considering 'unretiring', the number one most common reason cited is because they enjoy the intellectual stimulation from working (50%), while 36% say they don't want to feel a lack of purpose.

"Amid inflation, changing workforce dynamics post-COVID, and overall generational shifts, Americans are rethinking retirement and extending their time working or, for some retirees, unretiring altogether," said Chris Blunt, President & CEO of F&G. "While it's understandable that those facing financial challenges would consider such steps, it's interesting to see our survey findings underscore how much generations like Baby Boomers are reconsidering what retirement looks like and what's important to them such as finding personal fulfillment and intellectual stimulation."

Those Approaching Retirement Are Delaying It

Among pre-retirees, 64% are considering or have taken action to delay their retirement. Financial concerns were the top reasons, with pre-retirees worrying they won't have enough money for retirement (52%), followed by concerns about inflation (51%), and the desire to have more financial options and a larger safety net (43%).

However, there were several non-financial issues pre-retirees were considering too. Specifically, nearly one-third (29%) of pre-retirees are considering staying in the workforce because they love what they do for work and enjoy the intellectual challenge/stimulation from working (27%).

Financial Advisors Can Increase Confidence and Happiness

Among the other findings, almost half of those surveyed currently don't use a financial professional. This was particularly true for Generation X in the study (ages 50-58), with 59% saying they currently aren't using a financial professional.

As many people in retirement are also looking for guaranteed income, over a third of all respondents (36%) who work with a financial professional own an annuity, which is known for providing steady income and inflation-hedging benefits. This contrasts with only 14% of those who don't use a financial professional.

"Leveraging the expertise of a trusted financial advisor can often make people more confident and better equipped to navigate the challenges of retirement planning with conviction and clarity," added Blunt. "But once financial considerations are mitigated, advisors could think beyond the numbers and also consider their role helping clients plan for overall happiness - whether that involves volunteering, working full time, part-time or not at all."

For more information on F&G's latest survey, please visit

Survey Methodology

This survey was conducted online by Directions Research, independently recognized as one of the nation's leading business decision insight firms.

The survey was fielded from June 7 to June 16, 2023, among a nationally representative sample of 2,015 U.S. adults 18 years of age and older. Respondents were targeted to Americans Aged 50+, who are financial decision-makers and have $100K+ in financial products/savings.

About F&G

F&G Annuities & Life, Inc. is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa. For more information, please visit

1 To qualify for the survey, respondents had to be age 18+, have sole or shared financial decision-making responsibility for their household, be retired or plan to retire, and own financial products valued at $10,000 or more.

SOURCE Fidelity & Guaranty Life

Annuity Alliance is not affiliated with Nationwide or The Harris Poll. This article is for informational and educational purposes only. It should not be used to make a buying decision. If you would like to speak with a financial professional, please use Annuity Alliance’s contact form.