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Rejoining the workforce after retirement is not always driven by finances, a recent study said. (iStock) Inflation is moderating, but an increasing number of Americans that are nearing retirement or have already retired are considering delaying their plans or returning to the workforce because of rising prices, a recent survey said. More than two out of three (68%) of pre-retirees plan to push back their retirement – compared to 64% last year, according to the F&G Annuities & Life survey. Forty-four percent said inflation was the reason why they were altering their plans. Inflation moderated to 3% in June after reaching a 40-year high two years before. However, the lingering effects of high prices have remained, and the Federal Reserve’s quest to lower inflation by raising interest rates has also increased borrowing rates on everything from car loans to home loans. Respondents also cited other reasons for returning to the workforce, saying it also also offered them an intellectual challenge. A third of people (33%) who are either considering or have pushed back their retirement said they were doing it because they loved what they did for work. The same percentage said they enjoyed the stimulation of working. “This remains a challenging macroeconomic environment to navigate for those close to or in retirement,” F&G CEO Chris Blunt said. “As our survey shows, Americans are still reconsidering what retirement means to them, which may look different from previous generations. We believe taking a proactive approach in financial planning can help mitigate some of the economic risks, allowing people to focus on their own personalized roadmap of how and when to retire.” If you’re struggling to save for retirement in the current economy, you could consider paying down hi …
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