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Millions of retirees returning to work need more income




Millions of retirees who are afraid of cuts in social security return to the workforce or find new sources of income.

They go after something that many other American workers are also seeking: better income.

In fact, more than half of older employees have recently been investigated saying that the main reason they work is "want revenue," according to a new study from the Transamerica Center for Retirement Studies. It was found that retirees get at least financially at all times. But "some risks give their savings."

In another study, AARP, who asked respondents aged 45 and over, said that 13 percent said they & # 39; Get retired but seek work.

Securing their finances ̵[ads1]1; "need the money" and "saving more for pension" – is the most common reason to work, the survey said.

That's understandable. The average monthly social security payment is $ 1,420, and many rely heavily on it.

"Social security generates the bulk of the revenue of most older Americans. About half of the elderly, it gives at least 50 percent of revenue, and for about 1 in 5 seniors, it gives at least 90 percent of revenue," Social Security Administration.

The Transamerica study also found that the next generation of retirees will face the same problem.

"Sixty-six percent of retirees indicate that social security schemes will be their primary source of income during retirement."

And this comes at a time when Social Security members are projecting more cuts unless the Congress makes changes.

So how can the "retired" ease to earn some extra income? Get organized, says an AARP official.

"The first step in finding a job is on the network. Tell everyone you know you're looking for a job, since you never know if an employer wants to hire someone with your skill set," says Susan Weinstock, AARP's vice president. economic flexibility program.



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