Brandonomics is Working! 25% of 62-85 YO's Working, 12% More Going Back to Work

[Bill]

37%! Hell yeah, Brandonomics! Let's see if we can pump those numbers up to over 50%!

https://www.wnd.com/2023/12/bidenomi...-survey-shows/

Bidenomics: 12% of retired Americans plan to return to work in 2024
Cite rising costs
By Jack Davis, The Western Journal
Published December 15, 2023 at 12:41pm


A new snapshot of American senior citizens shows that about 1 in 8 seniors is heading back to work.

The website ResumeBuilder commissioned an online survey of 500 people between the ages of 62 and 85 and found that 12 percent of those already retired plan to go back to work next year, while almost 25 percent are still working.

The poll was launched in November. No margin of error was provided.

Inflation and the increased cost of living are the top reasons why seniors are returning to work, with 61 percent of those responding citing them as their motivation.

The survey found that 34 percent did not have enough money saved to retire, while another 34 percent said they had debt to pay off.

TRENDING: 'Shameful': State health department loses track of $1.4 BILLION!

Overall, 17 percent of those surveyed work full-time and 7 percent work part-time. Of that group, 75 percent said they never stopped working.

Of those who unretired, 61 percent said they had gone back to work since 2020, with 45 percent saying inflation and the increased cost of living had forced them out of retirement.

"Clearly, the driving factor for a majority of seniors returning to work is financial, but this is not the only reason for many," said Stacie Haller, Resume Builder's chief career advisor.

"In my own practice, I often meet with retirees who find that they miss the camaraderie of working with others. Many still want to be in the game and are not ready to just 'play golf.' Many are excited about trying something new."
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A report released by the Senior Citizens League in May noted that increases in Social Security have lagged behind inflation, meaning the buying power of senior citizens has dropped by 36 percent since 2000.

The report said that although Social Security payments had risen by 78 percent between 2000 and 2023, the cost of living had risen by 141.4 percent for senior citizens.

The study looked at the effect of inflation on the price of common items during that time and found, for example, that the cost of eggs had risen 332 percent.

Of particular concern to older Americans is the cost of prescription medications, which the study said increased 311 percent; heating oil, which increased 279 percent; Medicare Part B premiums, which are up 262 percent; and homeowner’s insurance, which is up 193 percent.

The report also noted the price hikes between February 2022 and February 2023, with eggs again leading the way at 110 percent.

Other grocery price increases included bread at 18 percent, coffee at 17 percent and chicken at 10 percent. Dental care increased 16 percent, electricity 13.3 percent, and vehicle maintenance and repair 13 percent.

Hell yeah, mofos!

[Swany00]

34% strong

[LATB]

I’m a 60-something who was working before it was cool.

[Cool 50th AE]

biden only trying his best after inheriting the trump mess.

So say's the guys over at the democratic underground.

[Big bob]

**** THAT

[LATB]

FJB is a corrupt POS and that SOB should be hanged for MOFO treason.

[slewfoot]

Not me, I did my time.

[Torqaholic]

Saw some super old retired guy walking around the hallways where I worked back in the 90's. Not sure what his job was other than to entertain everyone with his piss/shit stained pants. I felt sorry for him but everyone else got
a good laugh behind his back.

[ricks327]

[jw38]

Originally Posted by Big bob

**** THAT

Work is a 4-letter word!

[Vette40th]

Well, its working as planned. You may not be the beneficiary of the plan, but its working as planned.

[gs568]

Originally Posted by Big bob

**** THAT

And everyone that voted for that pos.

[Jughead]

Glad I didn't retire.

[Dan47]

Inflation has been impoverishing a portion of ignorant Americans for a long, long time, even during “the Donald’s” term at the helm. Space Force and those stimmie checks, ain’t paying for themselves.

“The Swamp” encompasses the whole of D.C. and most government agencies, not just Biden, unfortunately. And is a result of this long running central bank, fiat currency scam.

We need sound money, not a different type of politician.

[TheHammer]

No surprise;

Average retirement savings balance by age
Based on data from the 2022 Survey of Consumer Finances — the most recent version of that survey — the median retirement savings for all families is $87,000
[1]
. The average retirement savings by age is:

Age group

Average retirement savings balance amount

Under 35 - $49,130

35-44 - $141,520

45-54 - $313,220

55-64 - $537,560

65-74 - $609,230

[Frankie the Fink]

1 in 8 seniors returning to work ? Hell that could be just boredom or to get "walking around money". Not a bid deal - and I'm no fan of Bidenomics.

[Onebadcad]

I will probably work everyday, or at least most, until death, as the schedule is easy and it give me and the wifey daily separation that is good for a marriage.

10:00 VetteBarn day, I mean workday, begins
11:00 plan for lunch
11:30 go to lunch
12:30 plan for golf
2:30 on the links
Home by 6:00, just in time for dinner

[Vette40th]

Originally Posted by TheHammer

No surprise;

Average retirement savings balance by age
Based on data from the 2022 Survey of Consumer Finances — the most recent version of that survey — the median retirement savings for all families is $87,000
[1]
. The average retirement savings by age is:

Age group

Average retirement savings balance amount

Under 35 - $49,130

35-44 - $141,520

45-54 - $313,220

55-64 - $537,560

65-74 - $609,230

Is this 401Ks?
My retirement is my retirement, as I am retired Military, so my savings is squat. But, I have a monthly check. How does that factor into one of these categories. I dont think it does. Many are on their second career, so savings will be low, in my opinion.

[TheHammer]

Originally Posted by Vette40th

Is this 401Ks?
My retirement is my retirement, as I am retired Military, so my savings is squat. But, I have a monthly check. How does that factor into one of these categories. I dont think it does. Many are on their second career, so savings will be low, in my opinion.

https://www.nerdwallet.com/article/i...-you-need-more

[Frankie the Fink]

Originally Posted by Vette40th

Is this 401Ks?
My retirement is my retirement, as I am retired Military, so my savings is squat. But, I have a monthly check. How does that factor into one of these categories. I dont think it does. Many are on their second career, so savings will be low, in my opinion.

Depends on how you want to calculate things, some of my friends have 2 million in the bank in retirement accounts and if you draw too much from that the principal eventually is eroded. The old rule of thumb was to draw annual 4% that's $80,000/year and theoretically the principal will remain intact.

Between the wife and my own "old" Federal pension plans we would need (together) $4.5 million in an IRA to match our current annual income assuming a 4% annual withdrawal rate. The downside being when we are both gone, unlike an IRA, there is no lump sum to leave behind.