Retirement used to evoke images of relaxed mornings with coffee, leisurely walks, and the occasional round of golf. But for many Boomers and late Gen Xers, the golden years look much more active, and sometimes more like a return to the workforce. The growing trend of “unretirement” is reshaping workplaces and personal finances, as more retirees opt to go back to work to supplement their income, stay engaged, or simply to keep life interesting.

In the U.S., older workers are re-entering the workforce at unprecedented levels. According to recent data, 191,000 men over 70 rejoined the workforce in September, and another 144,000 in October. A record-breaking 3.15 million men over 70 are now working in the U.S., underscoring the growing trend of unretirement.¹

But it’s not just older men. Older women, too, are re-entering the workforce, although their motivations and challenges often differ.² In addition, people in their 50s and 60s are revisiting their retirement plans.³ 

Why are retirees rejoining the workforce?

A mix of factors is driving this shift. Financial necessity is a key motivator, especially with rising costs of living and longer life expectancies. Empower research shows that while 47% of American men think they’ll be able to retire (or have already retired) when they want, only 31% of women feel this way. Americans say they’ll need $1,058,547, on average, to retire.

Empower found that people are expecting to retire three years later than planned, at age 63 on average, and five years for those without a financial plan.

But financial concerns are only part of the story. Many older workers are drawn back to their careers, even if part-time, for reasons beyond their wallets. For some, work provides purpose, routine, and social connections that are difficult to replicate in retirement. Others see unretirement as an opportunity to explore new career paths, engage in part-time or freelance roles, or even pursue entrepreneurial ventures.⁴

Men and women returning to work

The unretirement trend spans genders, though the reasons and experiences differ. Men over 70 are often returning to technical, managerial, or consulting roles. 

Women are also joining the unretirement wave, but in different ways. For women in their late 50s and 60s, the trend reflects a mix of financial needs and personal aspirations. After years of balancing work and caregiving responsibilities, some women are returning to jobs that align more with their passions. Others, facing smaller retirement savings, are re-entering the workforce to build financial stability.⁵

Industries and opportunities

Unretirement is reshaping industries such as healthcare, education, and retail. These are popular sectors for older workers, offering part-time roles and opportunities to connect with others.⁶

Flexible work arrangements appeal to retirees, with some seeking jobs with part-time hours, remote work, or phased retirement plans. Companies offering these options are finding it easier to attract older workers, who bring not just expertise but also a steady, reliable work ethic.⁷

The states with the most workers aged 65 or older are Vermont (25.6%), Iowa (23.9%), and Maryland (23.4%).⁸ Nationally, 19% of adults aged 65 or older were employed in 2023, according to a Pew Research Center study that also shows that older workers are better educated, more likely to be receiving benefits, and are working more hours than their counterparts in the past.⁹

Read more: Smart strategies for managing student loan debt in retirement

Health and wellness benefits of work

Unretirement isn’t just about financial health. It’s also good for mental and emotional well-being. Older adults who return to work often experience improved mood, reduced stress, and a greater sense of purpose.¹⁰

Some retirees report that having a job, even a part-time one, provides structure to their days and a sense of accomplishment that’s hard to replicate in retirement.¹¹

Rethinking retirement goals

The shift toward unretirement is also prompting many Americans to rethink what retirement means. For decades, retirement was framed as a final chapter—a time to relax after a life of hard work. But as Boomers and Gen Xers redefine retirement, a new narrative is emerging.

Empower’s data shows that when envisioning retirement, people prioritize travel, family time, and hobbies. Yet, many also express interest in taking classes, doing part-time work, and volunteering. These pursuits reflect a broader desire for fulfillment and purpose, rather than an abrupt end to productivity.

Read more: Essential steps for retirement planning

Preparing for a future of unretirement 

As the unretirement trend gains momentum, financial literacy and preparation are more important than ever. Individuals planning for retirement can learn from today’s unretiring Boomers and Gen Xers by adopting strategies that prioritize adaptability and financial resilience.

The unretirement boom serves as a reminder that retirement isn’t a one-size-fits-all experience. By embracing flexibility and staying engaged, older workers are proving that it’s never too late to rewrite the script.