More Americans Are Saying No to Full-Time Retirement
Increasingly, people say they plan to keep working their entire lives.


The idea of retirement as a long vacation after 40 years on the job may be on its way out. More and more Americans are enjoying second acts and envisioning retired life as just a later phase of their working lives.
According to new research from Empower, a financial services company, over half (58%) of Americans (64% of Baby Boomers and Gen Xers) may be in the job market post-retirement and are open to working indefinitely — and the reasons aren’t purely financial. Would-be working retirees are motivated by values such as personal fulfillment (41%) and having a sense of purpose (37%), as much as potential financial needs (40%).
To explore what defines the ideal retirement in America, Empower surveyed over 1,000 adults about their views on living locations, activities and concerns. Here are more findings:

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Top retirement locations in the U.S.:
- Florida
- New York
- California
- Colorado
- Texas
Top retirement locations abroad:
- Italy
- Thailand
- Japan
- Mexico
- Barbados
Top retirement activities:
- Traveling
- Gardening
- Hiking
- Art
- Volunteering
Top retirement concerns:
- Inflation
- Insufficient savings or running out of money
- Unexpected expenses
- Healthcare costs
- Affordability of housing
A separate survey by the Pew Research Center reports that roughly one in five Americans aged 65 and older were employed in 2023 — nearly double the share of those who were working 35 years ago. And not only are older workers increasing in number, but their earning power has grown in recent decades. In 2022, the typical worker age 65 or older earned $22 per hour, up from $13 in 1987.
The Pew study also found that older workers are working longer hours with higher levels of education and greater pay per hour. Older workers’ overall contribution to the labor force has grown considerably. In 2023, they accounted for 7% of all wages and salaries paid by U.S. employers. That is more than triple the share in 1987 (2%).
Note: This item first appeared in Kiplinger’s Retirement Report, our popular monthly periodical that covers key concerns of affluent older Americans who are retired or preparing for retirement. Subscribe for retirement advice that’s right on the money.
Related stories
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

David Crook is an innovative editor and developer of print and online publications on a wide variety of subjects, from real estate to show business, finance to politics. Prior to joining Kiplinger, David invented, launched and edited “The Wall Street Journal Sunday” — the largest- circulation business print publication in U.S. history. David is also the author of The Journal’s “Complete Real Estate Investing Guidebook” and “Complete Home Owner’s Guidebook.”
Prior to the 1999 launch of Sunday Journal, David was on the team that introduced the paper’s highly successful Weekend Journal effort, expanding the world’s premier business newspaper from five days a week to six. Before joining The Journal in New York in 1995, David was managing editor of a group of suburban Los Angeles newspapers, and, before that, a writer and deputy editor for the Los Angeles Times arts and entertainment department.
Before that, he was reporter and editor in Washington, D.C., for what is today known as Broadcasting and Cable magazine. In 2017, he co-founded DCReport.org, a news website focused on national political matters. David received a Bachelor of Arts with Honors from Tulane University, New Orleans.
-
The Most Tax-Friendly State for Retirement in 2025: Here It Is
Retirement Tax How do you retire ‘tax-free’? This state doesn’t tax retirement income, has a low median property tax bill, and even offers savings on gas. Are you ready for a move?
-
Plan for Higher Health Care Costs in 2026: Projected Medicare Part B and Part D Premiums
In 2026, Medicare participants will pay more for their health care. Part B costs are expected to rise more than 10%. Here's what you can do.
-
You Need to Have This Financial Talk With Your Spouse
Women are poised to inherit significant wealth from their husbands. Here's how they can prepare for it.
-
Three Ways to Find Deals in Your Investments This Year
Looking for ways to save because of tariffs? Don't forget to look for deals in your investments. Here are three expert tips for making a little extra this year.
-
Surprising Ways to Find Deals on Cars Despite Tariffs
Looking for a new car? Tariffs will make good deals harder to find, so use these expert tricks to get a lower purchase price and keep long-term costs down.
-
Don't Miss Out on These Four Credit Card Benefits
Credit card benefits aren't always limited to cash back, points and miles. Check whether your existing card offers these valuable extras — or switch to one that does.
-
Smart Ways to Save Money at Museums
Want to save money at museums, art galleries, zoos and gardens? Use these tips to get free or discounted admission to national and local collections.
-
How to Find Deals on Travel in 2025
Finding deals on travel is an excellent way to cut costs in 2025, as tariffs start to bite. Here are three suggestions for lowering the cost of your next trip.
-
Strategies to Spend Less on Clothing and Online Shopping in 2025
It's easy to spend less on clothing and other goods when shopping online. Arm yourself with these expert tricks and tools that will help you grab a bargain.
-
Three Ways to Spend Less on Groceries This Year
More of us are looking to spend less on groceries this year, as tariffs affect food bills. Here are three smart ways to keep grocery costs down.