Over a third of the aging US population (35%) isn’t sure they will retire due to current economics and the high cost of living, according to recent research.
AUSTIN, Texas, Feb. 17, 2025 /PRNewswire/ — The majority of baby boomers (88%) currently work full-time, part-time, or do temporary work, and over a third (35%) aren’t sure they will retire this year due to current economics and the high cost of living, according to new research revealed by Indeed Flex, the online marketplace for flexible and temporary work. [1]
Almost half (47%) plan to keep working in 2025. The results reflect that the traditional retirement age has become less relevant which could potentially reshape workforce dynamics.
With only 10% retired, the three highs—the cost of living, housing prices, and healthcare costs may force the aging population to rethink retirement. Factor in economic uncertainty with Trump’s proposed new tariffs on imports; boomers may need to delay retirement even longer.
Un-retirement may be the next trend; 23% of retired adults are considering temp work for extra money, vacations, and gifts while for others its socialization. Tariffs can impact portfolios, retirement funds, and additional costs on everyday items. Unlike previous generations, older Americans can’t rely on pensions or Social Security being enough to live on therefore temporary work can help maintain their standard of living.
83% report they would consider temporary work with 61% say they prefer retail, hospitality, and business support sectors.
Over half (55%) consider 10-20 hours of work per week, 27% prefer 20+ hours, and 14% only want up to 10 hours. Temporary shifts provide the most flexible way to pick up any amount of work to fill the financial gap between Social Security and high living costs.
Boomers’ working longer or un-retiring presents opportunities for employers. Older workers bring experience, strong work ethics, and knowledge that benefit businesses needing to fill positions. In a multigenerational workforce, their reliability and problem-solving skills make them an asset.
Novo Constare, CEO and Co-founder of Indeed Flex, said: “As the aging population heads into retirement age, many do not have enough money saved to live financially secure.
“Previous generations could rely on pensions and affordable living; today’s boomers are navigating a financial landscape where Social Security alone isn’t enough to meet their current needs.
“Boomers are facing long-term care costs, obstacles in saving, or possible investing challenges; temporary work is a good bridge to make ends meet.
“Employees can use their expertise to fill temporary work gaps, seasonal demands, cover absences, or evaluate potential hires before committing long-term.”
Notes to Editors
- Indeed Flex survey of 1000 US baby boomers, December 27, 2024
About Indeed Flex:
Indeed Flex is the digital staffing platform that gives jobseekers the fastest and easiest way to find temporary work that fits their lifestyle. Indeed Flex allows people to find temporary work with just a tap of an app. It offers the work you want, when and where you want.
Visit IndeedFlex.com for more information.
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Renee Borsack
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SOURCE Indeed Flex
