More older Americans delay retirement over money worries

Nearly one in four Americans over 50 are delaying retirement due to growing financial uncertainty and economic concerns, according to a new F&G Annuities & Life survey of 2,000 adults.

The poll found 23% have delayed retirement, up from just 14% in 2024.

Concerns over inflation, recession risks, and lack of savings are driving the trend. Median savings for 55-year-olds is only $50,000—far short of what’s needed to retire comfortably.

Many are also postponing claiming Social Security benefits to maximize monthly payouts. Those who wait until age 70 can boost benefits by 24%.

AARP senior policy adviser David John says Americans are even cutting or withdrawing retirement savings to cover living expenses. While this helps in the short term, it worsens retirement prospects.

He advises people to “save and continue to save”—even small amounts monthly—to ensure future stability.