You've heard of the 'silver tsunami,' the surge in Americans reaching retirement age, leaving behind a depleted workforce. But there could soon be a reverse tsunami, where legions of retirees return to work to replenish rapidly depleting savings.
The work pivot is mainly down to a familiar problem — retirees are afraid of running out of money, with the issue so pervasive that 64% worry more about running out of cash than dying, according to a recent Allianz Life study. Add to the mix longer life spans, fewer company pensions, rising doubts over the future of Social Security, and a half-decade run of high inflation, and it’s no wonder that so many retirees are returning to the workforce, in some form.
