Three-quarters of American workers plan to keep earning after retirement. But the reality is stark: only 31% actually do.
That's according to the 2026 Retirement Confidence Survey from the Employee Benefit Research Institute. For decades, the pattern has been consistent: 70-80% of workers expect to work in retirement, yet the actual number has never exceeded 34%.
Experts point to a fundamental misunderstanding of retirement and the labor market. Many workers envision a gradual transition, cutting hours or consulting. But retirement often arrives suddenly, triggered by health issues or corporate downsizing. And finding new work later in life is tough.
“People do expect to gradually transition by reducing hours, but what ends up happening is, they end up stopping completely,” said Craig Copeland, EBRI director.
The desire to work partly reflects fear about savings. EBRI says two-fifths of workers lack confidence in retirement security. In the survey, paid work ranks after Social Security and savings as an expected income source. Yet only 27% of retirees actually earn from work.
Part-time roles are scarce, and age discrimination remains a barrier. A separate AARP report found 7% of retirees recently "unretired," mostly for money.
“People are worried about outliving their retirement savings,” said Carly Roszkowski of AARP.
The gap between expectation and reality underscores a critical risk: counting on a paycheck you may never get.