{"id":119,"date":"2022-07-10T04:57:11","date_gmt":"2022-07-10T04:57:11","guid":{"rendered":"https:\/\/my-gainfully-unemployed-retirement-blog.net\/?p=119"},"modified":"2022-07-17T19:45:20","modified_gmt":"2022-07-17T19:45:20","slug":"the-great-unretirement","status":"publish","type":"post","link":"https:\/\/my-gainfully-unemployed-retirement-blog.net\/?p=119","title":{"rendered":"The Great Unretirement"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em><strong>\u201cThe bottom line is that older workers have gone back to work.\u201d&nbsp;<\/strong><\/em>(Alicia Munnell, director of the Center for Retirement Research at Boston College, to the NY Times). &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This statement summarizes what is now trending in 2022.&nbsp; It has been dubbed the <strong>Great Unretirement. <\/strong>According to Labor Department data, 1.5 million would-be retirees have already recently returned to jobs.&nbsp;Another 68% of the newly retired are actively considering returning to work. (Https\/\/:<a href=\"http:\/\/www.fortune.com\/2022\/06\/07\/great-unretirement-recently-retired-workers-consider-returning-to-jobs\/\">www.fortune.com\/2022\/06\/07\/great-unretirement-recently-retired-workers-consider-returning-to-jobs\/<\/a>)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I am not totally shocked by the so-called <strong>Great Unretirement<\/strong> trend.    I was among those <strong>8<\/strong> <strong>million workers<\/strong> that the covid pandemic sidelined out of the workplace. In 2019, the covid pandemic\u2019s impact on businesses changed everything.&nbsp; My entire industry was at risk for an extended period, with no positive end result guaranteed.&nbsp; It seemed a good time to cut my losses and leave. Back then, what was happening was described as the Great Resignation.&nbsp; Millions of us left our jobs.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A Great Resignation Becomes A Great Unretirement<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But life has gone on, and pandemic impacts are easing.&nbsp; The cost of living is very much higher now- a fixed income is quite a hardship. <strong>Inflation<\/strong> is at its highest level since 1981. There are <strong>rising prices <\/strong>of gas, food, and everyday expenses. The <strong>stock market<\/strong> has been very volatile.&nbsp; I, along with many retirees, have watched in horror as 401(k) balances plummet. (https:\/\/<a href=\"http:\/\/www.cnbc.com\/2022\/05\/05\/unretirement-is-becoming-a-hot-new-trend-in-the-sizzling-us-labor-market.html\">www.cnbc.com\/2022\/05\/05\/unretirement-is-becoming-a-hot-new-trend-in-the-sizzling-us-labor-market.html<\/a>). <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also <strong>changing work environments <\/strong>are making a return to work more attractive. Companies are embracing <strong>remote workforces<\/strong>, for instance. That technology offers a chance to earn without time spent in a daily grueling commute. In addition, employers are offering other incentives to entice people to work for them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally who could forget about those wonderful health insurance costs that employment brings?<strong> Health insurance coverage<\/strong> is usually crucial the older a person gets. Those younger retirees that are not yet eligible for Medicare are returning to those jobs that provided them with health care.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Retired, Not Expired?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A final factor making a return to work attractive is <strong>senior loneliness\/isolation.&nbsp; <\/strong>This factor was likely aggravated by the covid lockdowns. But retirees returning to work are sometimes driven by the need for social interactions and significance.&nbsp; Maybe a retirement luxury of not needing an alarm clock anymore loses its luster when too much loneliness sets in. I have to say that I do not miss the work so much as I miss my fellow co-workers and our \u201cwater-cooler\u201d interactions. Missing those relationships is not surprising.&nbsp; A person works with  co-workers for 40 hours a week, often for years- and likely spends more time with them than with spouse or family.&nbsp;Losing those social interactions can be isolating. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>So will the Great Resignation become the Great Unretirement for me?<\/strong> I am actually starting to job-hunt for something part-time to supplement my income. They do say that in retirement, there&#8217;s no more rat race, but less cheese. But sometimes there&#8217;s a trade-off when a little extra cheese is needful.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThe bottom line is that older workers have gone back to work.\u201d&nbsp;(Alicia Munnell, director of the Center for Retirement Research at Boston College, to the NY Times). &nbsp; This statement summarizes what is now trending in 2022.&nbsp; It has been dubbed the Great Unretirement. According to Labor Department data, 1.5 million would-be retirees have already &hellip; <a href=\"https:\/\/my-gainfully-unemployed-retirement-blog.net\/?p=119\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Great Unretirement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Great Unretirement - Welcome<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/my-gainfully-unemployed-retirement-blog.net\/?p=119\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Great Unretirement - Welcome\" \/>\n<meta property=\"og:description\" content=\"\u201cThe bottom line is that older workers have gone back to work.\u201d&nbsp;(Alicia Munnell, director of the Center for Retirement Research at Boston College, to the NY Times). &nbsp; This statement summarizes what is now trending in 2022.&nbsp; It has been dubbed the Great Unretirement. 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