BUSINESS

Retired individuals are returning to the workforce in droves

Nov 22, 2021, 3:29 PM | Updated: 3:29 pm
retirement...
Photo: Getty Images

Tired of retirement? Research reveals that retired individuals are returning to the workforce in the multitudes.

DMBA Certified Financial planner Shane Stewart joined Utah’s Morning News on Monday to explain the reasoning’s why we are seeing this trend. 

“There are some who retired for what we call ‘bad reasons,’ meaning they were fearful of the pandemic or were forced out of their jobs because they had lots of money and needed to retire,” said Stewart. “Retirement just isn’t working for them financially.” 

He noted that recent retirees are jumping back into the workforce because they see an abundance of jobs due to the record number of open positions out there. 

A lack of money isn’t the only reason why people are returning to the workforce. Boredom is also playing a huge part. A lot of people retired individuals are going out and finding “hobby jobs,” which could be a more fun part-time job than what they made a career out of. 

“Retirees who are getting hired in various positions are also doing a good job of stimulating the economy,” said Stewart.  

So what is Stewart’s advice for those looking to get back into the workforce?  

“Count the cost, not only financially but emotionally.” 

What works for some won’t always work well with others, so it’s important to think securely and plan ahead when it comes to your future savings.

Today’s Top Stories

Business

Intermountain Healthcare...
Mark Jones

CEO and President of Intermountain Healthcare announces resignation

Intermountain Healthcare will soon be looking for a new CEO and President. Current, CEO and President Dr. Marc Harrison announced Thursday he will resign from the position later this year.
4 days ago
FILE - A hiring sign is displayed at a restaurant in Schaumburg, Ill., Friday, April 1, 2022.  More...
PAUL WISEMAN AP Economics Writer

US unemployment claims rise by 14,000 to 262,000

The four-week average for claims, which smooths out weekly ups and downs, rose by 4,500 to 252,000, also the highest since November.
4 days ago
Breeze Airways...
Mark Jones

Breeze Airways announces additional flights out of Provo Airport

PROVO, Utah — Less than a week after beginning non-stop service to San Francisco, Breeze Airways announced Wednesday two additional flights out of Provo Airport. Starting Nov. 2, the Utah-based airline will offer non-stop service from Provo to Phoenix twice a week (Wednesday and Saturday). The airline will also offer a one-stop/no-plane change service to […]
5 days ago
Lions Not Sheep owner Sean Whalen is pictured...
Samantha Herrera

Utah business Lions Not Sheep responds to FTC fraud claims

Owner Sean Whalen posted an almost 15-minute-long video responding to the FTC's fine and complaint about Lions Not Sheep.
5 days ago
Gas prices displayed...
CHRISTOPHER RUGABER AP Economics Writer

US inflation slips from 40-year peak but remains high 8.5%

While there are signs that inflation may ease in the coming months, it will likely remain far above the Federal Reserve's 2% annual target well into next year or even into 2024.
5 days ago
Allegiant Airlines...
Mark Jones

Allegiant Air plans to hire 60 flight attendants for its new Provo base

Allegiant Air hire 60 new flight attendants for its new base of operations in Provo.
6 days ago

Sponsored Articles

Retired individuals are returning to the workforce in droves