While many of us spend most of our working life dreaming about the day we can finally retire, a new report says that many Americans are actually pushing back their retirement dates. And it's not because they've fallen in love with their careers , either. Instead, research from Economist Enterprise shows that people are afraid of one thing in particular, and it's a common complaint among almost all Americans right now.
Now, it looks like many people are pushing back their retirement by several years, raising questions about what the next chapter of life will actually look like for many older Americans.
Americans Are Delaying Retirement Because of the Cost of Living
Inflation has become a major pain point for many Americans today. And while that figure is often a temporary one that can rise and fall as various things happen both in and outside the U.S., it's the increased cost of living that has many people approaching retirement age pressing pause on their plans.
According to research from Economist Enterprise , which published its findings with the help of the investment firm Nuveen, around half of the 2,063 full-time employees surveyed said that the cost of living was keeping them from retiring on time.
People Are Pushing Their Retirement Back an Average of 4 Years
When it comes to just how long they are keeping that pause, it looks like the average American says they will work four years longer than they planned to so they can enter retirement in a better financial position.
"People are willing to sacrifice their long-term goals for some of their short-term needs, and that's probably contributing to the cause of delayed retirement," Economist Enterprise project manager Matt Terry told CBS News . "People think, 'OK, I guess I'll have to push it out a few years, because I really need the financial support right now.'"
Financial Issues Have People Borrowing from Their 401(k)
Unfortunately, the study also discovered that a third of the people who responded had also been forced to tap into their 401(k) by way of a hardship withdrawal to fund a variety of expenses. While these types of loans aren't inherently bad and many people use them to fund big expenditures like adoptions or the purchase of a new home, they may point to a broader issue with just how tapped today's workforce is already feeling.
Add into it the fact that many of these people may be nearing retirement age while still having a chunk of their retirement savings still in repayment, and it's easier to understand why so many are expressing trepidation over making the jump into that next chapter of their lives and delaying retirement until they feel more financially secure about entering into a time when they are earning less while also possibly having to spend more on basic necessities, including healthcare.
This story was originally published by Parade on Apr 8, 2026, where it first appeared in the Life section. Add Parade as a Preferred Source by clicking here.
