Which factor can influence an older adult’s decision to delay retirement?

The decision of an older adult to delay retirement can be significantly influenced by economic reasons. Many individuals may find that they need to continue working to secure their financial stability, especially in light of increasing longevity, rising healthcare costs, and potential inadequacies in their retirement savings. Concerns about maintaining a comfortable lifestyle, meeting ongoing expenses, or wanting to ensure adequate funds for unexpected future costs often drive the choice to postpone retirement.

In contrast, while factors such as a desire for travel, changes in health status, or preference for part-time work can also play a role in the retirement decision-making process, they often do not hold the same weight as economic factors. For many, the need for financial security is paramount and can overshadow other desires or preferences. Therefore, economic reasons stand out as a primary motivator in the decision to work longer.