Why older Americans may want to delay retirement if they can

An uncertain macro environment now makes a difficult period to make major retirement decisions. Dozens of older Americans have told Business Insider than in recent months.

They are concerned about a recession, from staff cuts to the Social Security Administration, their 401 (K) in the midst of market volatility and inflation exacerbated by prices.

The main engines of these concerns – unpredictable and always fluctuating political initiatives by President Donald Trump – are far from the relatively placid approach to his predecessor. This created a difficult set of circumstances for older Americans.

We look at the stages that people or near retirement age can take To protect their eggs and nest investments. Below is what the financial advisers, the researchers on aging and the retirees told us to make major choices on retirement in 2025.

Delay retirement if you can

For those who can continue to work and save, maybe the right time to extend their retirement calendar, said Wes Battle, a certified financial planner from the National Active and Retired Federal Employes Association.

BI has spoken with older Americans who do this exactly: choose to delay retirement for a few years or return to part -time work.

“Many people have never even calculated what would cost it to retire and what their retirement income would be,” said Battle. “The simple fact of looking at these things is a step in the right direction.”

Due to a slowdown in hiring and an economic uncertainty, it may be better to hang on to your work a little longer, if you have one, said Battle.

And if you decide to retire soon, you can try to go back to work if your financial needs change. The non-retirement is increasingly common: Linkedin’s economic graph has reported that around 13% of baby-boomers on the platform returned to the labor market in 2023-which had a five-year summit.

Consider not adapting to investments and taking social security

On the finance front, Battle said that he had seen a recent increase in customers who fear that the current economic conditions are undergoing their retirement nest eggs.

“This is the knot of all this:” will I go well? “And that could be different for everyone,” he said.

Although it can be tempting to make changes to your 401 (K) or an investment portfolio during volatility, Battle advises the release of the market.

Bi heard retirees who swear by this practical approach. Some have said that they had continued to save until 2008 and other recessions – instead of adjusting their investment strategies – And now feel safe in their retirement assets.

In addition to the 401 (K), Battle said that individual retirement accounts could also be a great way to save money, even if you can only save yourself from small quantities at the same time.

As for social security, Battle said that it is better to delay the benefits of complaint until you reach the full retirement age, which is generally 67 years old, and that you can receive a higher monthly check. However, many older Americans said to Bi that relying on social security because their main source of income is not sufficient and that they must always work, at least part -time, to pay their bills.

Make sure your “longevity planning” goes beyond finance

Madonna Harrington Meyer, professor of sociology who works with the Institute of Studies on Aging of the University of Syracuse, said that the culture of a healthy social life is just as important as saving money in terms of retirement planning. Indeed, even the best implemented retirement plans can be derailed by a divorce, the loss of a spouse, medical invoices, job loss or other unexpected expenses. Whatever your life circumstances, a solid retirement support system is crucial.

So, even if you do not know if you can retire, you can work on your community, which could involve pursuing hobbies, moving near the family and investing in friendships. Harrington Meyer said that continuing to work part-time, volunteering or taking care of grandchildren could also be social outlets. Working on your relationships can also give you a feeling of agency, which is precious in uncertain times.

In an AARP and Michigan University survey, a third of older adults of all income levels said they felt alone or often in 2024. Harrington Meyer said that loneliness could get worse during economic slowdowns because people are less likely to spend on social outings.

This is why a holistic retirement strategy, or what Joseph coughlin, director of Massachusetts Institute of Technology Agelab, calls for “planning of longevity”, is so important.

“Yes, it is how much money you have saved-but it is also all these other little things that make you smile and contribute to the quality of life,” he previously told Bi. “It must be planned as much as your 401 (K) or if you have had your annual exam.”

Harrington Meyer said that the community is a key element in physical and mental health, especially during an economic slowdown.

“What will be the most important for you?” She said. “And then try to build your retirement around this.”

Do you have a story to share on retirement? Contact this journalist by email to allisonkelly@businessinsider.com or on the signal in Alliekelly.10.