Growing tired of being retired? Maybe it’s time you tried unretirement. 

Before you dismiss the idea, know that “unretirement” is definitely a trend, as this recent NextAvenue article explains. A significant number of men and women who had “officially” retired, some during the COVID pandemic, have in recent years made a steady return back to the workforce. Their reasons, as we’ll see, vary widely. Many come back to work out of financial need, but for others the driving force is a desire to give back to the community, or an urge to pursue entrepreneurship. 

Whatever the motivation, the idea of unretirement has a strong allure. “Leaving the 9-to-5 routine doesn’t mean you have to stop working,” the article begins: “you can finally pursue those ideas that have long lurked in the back of your mind.” Let’s explore this idea further. Our NextAvenue analysis comes to us from business and finance reporter Mallika Mitra. 

Desire to Stay Active Motivates 76-Year-Old Writer Turned Entrepreneur 

Mitra begins her article by introducing us to Connie Inukai, who taught technical writing at the university level for roughly 40 years before she retired. But, as Mitra tells us, Inukai wasn’t interested in the common retirement activities like golf or spending time with her grandchildren. Instead, at 70 years old, she launched a business.  

Mitra writes, “[Inukai] invented Tip and Split, a restaurant calculating device with a magnifier and light for older people who have trouble reading the small print on menus.” 

Since then, Inukai—who is now 76—has embarked on new projects and has even written two books. While a continued income was certainly part of her inspiration, she also says she just loves to stay active.  

“I love what I do,” says Inukai, based in Washington, D.C. “I wake up every morning excited about what to do next. The main reason is you keep mentally active, physically active, socially active. I would never be happy just watching Netflix all day long. I’m learning constantly, and that inspires me.” 

Unretirement Draws “Excess Retirees” Back to Work 

This model of so-called “unretirement” is hardly unique to Inukai’s story.  It’s a trend. 

The COVID-19 pandemic changed the landscape of labor and put many people out of work, forcing millions into early retirement before they were ready. According to a research paper by economist Miguel Faria-e-Castro, in August 2023 there were just over 2.4 million “excess retirements” due to the pandemic — more than half of the 4.2 million people who exited the workforce from the beginning of the pandemic to the second quarter of 2021.  

“But soon after, these older Americans appeared to trickle back into the labor force,” Mitra explains. “A survey conducted in the summer of 2022 for T. Rowe Price’s Retirement Saving & Spending Study found that roughly 20 percent of retirees were working either full- or part-time, and 7 percent were looking for employment.” 

Healthy Job Market Beckons as One-Third of Older Adults Unretire 

These days, the level of “unretiring” people has pretty much matched pre-pandemic levels, says Geoffrey Sanzenbacher, a Research Fellow at the Center for Retirement Research at Boston College. 

“It tends to be that people come back [to work] when it’s very easy to do so, like when there are a lot of job openings,” Sanzenbacher says. That was certainly the case right after the pandemic, when there was a labor shortage, Mitra adds, “But the trend is still apparent.”  

Caring.com, an online information platform for caregivers of aging parents, spouses, and other loved ones, conducted an online survey in June 2024 of 1,500 Americans aged 62 to 85. They found that one in three employed older adults re-entered the workforce after retiring.  

Inflation and Cost of Living Trigger Half of All Unretirees 

While some “unretirees”, like Inukai, chose to emerge from retirement for the sake of personal development or a desire for continued career growth, many more unretire because they feel they have to.  

“Roughly half (48 percent) of respondents to T. Rowe Price’s survey who were working in retirement felt as though they had to for financial reasons,” Mitra writes. “Caring.com’s survey similarly found that more than half of ‘unretired’ older adults cited inflation and the increasing cost of living as a main reason for returning to work.” 

That said, the desire to give back to the community or stay active are still popular and viable reasons to unretire. Sanzenbacher says that he finds it’s “a little bit less financial and is oftentimes mindset focused.” As an example of evidence for this, he points out that we don’t see a surge of people unretiring a lot when the stock market drops.  

The opposite is actually more accurate, according to Sanzenbacher: people often retire, enjoy it much less than they thought they would, and then return to the labor market as soon as they can.  

Many Unretirees Employ Skills and Knowledge as Entrepreneurs 

Bridget Weston is the chief executive at SCORE, a resource partner of the Small Business Administration that provides free mentoring and education to current and aspiring small business owners. She says that while the trend toward entrepreneurship was happening before the pandemic, there has been a pronounced spike since COVID first appeared.  

“What we’ve seen is people who were retired are being more and more drawn to entrepreneurship,” Weston says. “It’s a way to stay active, it’s a way to stay connected and, frankly, they have experience and knowledge and wisdom to share and put to good use.” 

Mitra reminds us that Inukai is a perfect example, writing, “She embraced entrepreneurship later in life so much so that she trademarked a name for herself: Grandmapreneur. Not only is Inukai continuing to work on inventing and marketing her own projects, but she’s also helping others do the same” with her books and her inspiring example.  

“I loved my job and I was good at it,” Inukai says, when she reflects on her time as a teacher. But she is still putting those skills to good use seven years after retiring. 

A Top Ten Jobs List for Seniors Looking to Unretire 

So, if you’re considering a return to the workforce, what kind of work might you do? We found this list of employment ideas for “unretirees” on the website Unbiased.com, offered here (verbatim) as food for thought: 

1. Tutor: If you have a skill, such as knowledge of an instrument or a language, you may be able to help others learn it.    

2. Consultant: Your expertise in a specific area could be valued as a consultant in retirement.   

3. Office manager: If you can organize and manage things smoothly, you may want to consider a career as an office manager.   

4. Editor: You can use your keen eye for grammar, structure, and detail as an editor.   

5. Nanny: If you can manage the physical and emotional demands of childcare, you could consider becoming a nanny.   

6. Bus or ride-share driver: Schools always need bus drivers, and ride-share drivers can earn a decent wage.   

7. Real estate agent: If you love real estate, helping people, and have an eye for detail, you may want to consider becoming a real estate agent.   

8. Tour guide: Know a lot about your area? You may want to offer services as a tour guide.   

9. Bookkeeper: Businesses need help with their books, and if you have some background in this, you could be a big help.  

10. Financial manager: Former executives, accountants, and managers may be well-suited to help individuals or corporations plan financial decisions.  

Rajiv Nagaich – Your Retirement Planning Coach and Guide 

The long-awaited book by Rajiv Nagaich, called Your Retirement: Dream or Disaster, has been released and is now available to the public. Retirement: Dream or Disaster joins Rajiv’s ground-breaking DVD series and workbook, Master Your Future, as a powerful planning tool in your retirement toolbox. As a friend of AgingOptions, we know you’ll want to get your copy and spread the word.  

You’ve heard Rajiv say it repeatedly: 70 percent of retirement plans will fail. If you know someone whose retirement turned into a nightmare when they were forced into a nursing home, went broke paying for care, or became a burden to their families – and you want to make sure it doesn’t happen to you – then this book is must-read. 

Through stories, examples, and personal insights, Rajiv takes us along on his journey of expanding awareness about a problem that few are willing to talk about, yet it’s one that results in millions of Americans sleepwalking their way into their worst nightmares about aging. Rajiv lays bare the shortcomings of traditional retirement planning advice, exposes the biases many professionals have about what is best for older adults, and much more. 

Rajiv then offers a solution: LifePlanning, his groundbreaking approach to retirement planning. Rajiv explains the essential planning steps and, most importantly, how to develop the framework for these elements to work in concert toward your most deeply held retirement goals.  

Your retirement can be the exciting and fulfilling life you’ve always wanted it to be. Start by reading and sharing Rajiv’s important message. And remember, Age On, everyone! 

(originally reported at www.nextavenue.org)