Many Americans are heading into retirement with anxiety rather than optimism. Even as life expectancy grows, doubts about financial security linger-so much so that more than half believe they’ll need to go back to work after retiring.

According to US BankS 2025 Wealth Report-which surveyed 5,000 U.S. adults aged 18 and older between June 9 and June 26, 2025-63 percent worry they’ll have to return to work after retiring. While 61 percent expect retirement to last at least 15 years, only 58 percent believe their savings will be able see them through. and also this, 81 percent say retiring today is harder now than it was for their parents.

## Not Financially Ready

“that fear is very real-and it isn’t limited to people with modest savings,” Adam Spiegelman, founder and wealth advisor at Spiegelman Wealth Management, told Newsweek. “In my 25 years of advising clients, I’ve seen people with millions of dollars still worry that they’ll run out of money.”

Retirement is lasting longer for many Americans, but confidence in their financial readiness isn’t keeping pace.

He says teh concern goes beyond math-it’s a mindset shift.

“There’s a major psychological shift that happens when someone goes from receiving a paycheck every two weeks to relying on their own portfolio for income. It triggers a scarcity mindset that can make even the financially secure feel vulnerable.”

Unlike previous generations, today’s retirees face a system that depends heavily on individual savings.

“In the U.S., retirement is largely self-funded. We don’t have the kind of social safety nets that exist in parts of Europe, and confidence in goverment programs like Social Security is shaky,” Spiegelman said.

Inflation, rising living costs and market volatility headlines help fuel this fear. But all is not lost, with Spiegelman adding that planning can counter that anxiety.

“When clients take the time to project their income needs,account for inflation,and stress-test different market scenarios,the numbers often show they’re in better shape than they think.”

## Will Retirees Really Go Back to Work?

While fear of “unretiring” is high, Spiegelman says the reality looks very different.

“In my personal and professional experience, it’s not common at all,” he said, noting only one client in over two decades seriously attempted to re-enter the workforce-and found it very tough to get rehired.

instead, he says many people “cycle” their retirement rather than fully reverse it: they may consult, volunteer or work part-time for purpose rather than necessity.

Bobbi Rebell, personal finance expert at CardRates.com,points out that financial pressure i

The Fear of unretirement: Why Retirees Worry and How to Plan

Retirement shoudl be a time of relaxation and enjoyment,yet a growing number of retirees are haunted by the fear of having to return to work. This isn’t necessarily about needing the money; it’s often about a loss of purpose, identity, and the disruption of carefully laid plans. Several factors contribute to this anxiety, and understanding them is the first step toward building a more secure and confident retirement.

One major driver is the changing landscape of retirement security. Unlike previous generations who coudl rely on robust pensions and employer-sponsored healthcare, today’s retirees frequently enough shoulder more responsibility for their financial well-being.the social safety nets that exist in parts of Europe are largely absent here, and confidence in government programs like social Security is shaky. People know it’s there, but they also know it was never meant to fully fund a retirement. add inflation, rising living costs, and headlines about market volatility, and the fear of having to “unretire” starts to make sense.

The good news is that planning can ease a lot of that anxiety. When clients take the time to project their income needs, account for inflation, and stress-test different market scenarios, the numbers often show they’re in better shape than they think. You don’t have to work with a professional to start-even simple online calculators can help. But having a clear plan, with real cash-flow projections and contingencies, turns fear into understanding.That’s usually when confidence starts to replace worry.

Is Unretirement Common?

In my personal and professional experience, it’s not common at all. I’ve had that occur or a client attempt to do that once-and this is a 20-plus-year career. my clients tend to have higher net worths and come to me because they have money but don’t know how to structure it efficiently. Even though many are concerned about spending through their assets, very few ever go back to work.

A lot of retirees will volunteer or “cycle” through retirement-taking a step back,maybe working part-time,consulting,or shifting to something more purposeful. The one client I had who tried to re-enter the workforce had retired early, in his 50s, and regretted it. He was essentially aged out and found it very difficult to get rehired. So while the fear is understandable, the reality is that it’s very rare.

Key Takeaways

• The fear of “unretirement” is driven by concerns about financial security, inflation, and market volatility.
• comprehensive retirement planning, including income projections and stress-testing, can substantially reduce anxiety.
• Returning to full-time work in retirement is uncommon, especially for those with adequate financial resources.
• Many retirees find fulfillment through volunteering,part-time work,or consulting.
• Early retirement can present challenges when attempting to re-enter the workforce.