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Shortfall of Retirement Savings: American Retirees on Working Longer After Retirement

Most of the retirees from America want to work after their retirement. The reason is the shortfall in retirement savings.

American retirees want to work longer. (Photo: Yahoo Finance)

American retirees want to work longer. (Photo: Yahoo Finance)

In a published article on Yahoo Finance, the Transamerica Center for Retirement Studies (TCRS) did a survey of 5,725 workers in the month of November to December 2022 and it shows that;

  • 55% of the workers want to continue working after they retire.
  • 20% of the workers wants to work full time
  • 15%  of the workers are dependent on their source of income from working.

The fact that the shortfall of retirement savings makes the retirement confidence into the lowest  margin. This shortfall of retirement savings really affects workers who want to retire early because instead they can enjoy they retirement they can’t because of the shortfall of retirement savings.

READ ALSO: High-Earning Retirement Savers Are Losing Some of Their 401(k) Tax Break

Although leaving in your primary career it doesn’t guaranteed that you can continue earning. But because of the shortfall of retirement savings workers tend to work multiple jobs just to save money for their retirement. This workers are afraid that they get less due to the shortfall of retirement savings and cannot supply their needs in the future.

READ ALSO: For the facts: ‘Bidenomics’ is working – especially in red states

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