x
Breaking News
More () »

Inflation forcing some Americans to 'un-retire' to pay the bills

Higher prices for goods and services are making it tougher for people who left the workforce to keep up.

Remember a year ago when millions of Americans were retiring early or quitting their jobs without plans to find a new one?

Now, "the great retirement" of 2021 may soon be turning into "the great un-retirement" thanks to inflation. 

Higher prices for goods and services are making it tougher for people who left the workforce to keep up.  

The pandemic had a lot of people re-evaluating their priorities, including former TV producer Jake Leber, who was ready for a slower pace.

"Finding joy in the day-to-day is so much more important," Leber explained.

He's not ready to go back and is enjoying the new opportunities the great resignation offered. 

But a lot of people don't have that choice and are being forced back into the workforce as the cost of living soars, CNBC reports.

Inflation is running over 8 percent, throwing a wrench into some of the best-made retirement plans.

CNBC says COVID fears have also faded for many people making them feel better about stepping back into the workplace.

One bit of good news for older retirees: Social security benefits increased 6 percent in January, and could go up again next year so you don't waste your money. 

Before You Leave, Check This Out