Amid rising living costs and economic uncertainty, many baby boomers are reconsidering traditional retirement plans, with many opting to remain in the workforce longer than previous generations.
According to a recent study by Indeed Flex, 88% of baby boomers remain engaged in full-time, part-time, or temporary employment. Additionally, more than one-third of respondents expressed uncertainty about their ability to retire this year, citing financial constraints and inflationary pressures.
“Boomers are facing long-term care costs, obstacles in saving, or possible investing challenges; temporary work is a good bridge to make ends meet,” said Novo Constare, CEO and Co-founder of Indeed Flex.
While previous generations relied on pensions and more affordable living expenses, today’s retirees face a different financial reality. The study found that only 10% of boomers are fully retired, with many delaying their exit from the workforce due to increasing healthcare expenses and market volatility. Some have even chosen to re-enter employment, with 23% of retirees seeking temporary work to supplement their income for discretionary spending, such as travel or gifts.
Temporary employment has emerged as a practical solution for those looking to maintain financial stability while retaining flexibility. Indeed Flex’s data indicates that 83% of boomers are open to temporary work, particularly in retail, hospitality, and business support industries. Among those considering flexible work arrangements, 55% prefer working 10-20 hours per week, 27% prefer 20 or more, and 14% seek only a few hours per week.
Employers are increasingly recognizing the value of an aging workforce. With decades of experience, baby boomers bring reliability, problem-solving skills, and a strong work ethic to multigenerational workplaces. Businesses struggling with seasonal demand or staffing shortages find that hiring older, experienced workers temporarily offers a strategic advantage.
“Previous generations could rely on pensions and affordable living; today’s boomers are navigating a financial landscape where Social Security alone isn’t enough to meet current needs,” Constare continued.
With 88% of Americans ages 59 and older still working in some capacity, the study reflects a fundamental change in retirement norms. As financial concerns persist, many older adults adjust their plans and turn to temporary employment to bridge the gap between Social Security benefits and the rising cost of living. This trend presents an opportunity for businesses to tap into a workforce that remains highly engaged and eager to contribute.
