Overview
- Yahoo Finance argues that working part-time can be a more sustainable strategy than postponing retirement.
- Federal Reserve 2022 data show the median retirement savings for Americans ages 65 to 74 is about $200,000.
- Vanguard reports a 2024 median 401(k) balance of $95,425 for people 65 and older.
- The average Social Security benefit is slightly above $2,000 per month, which often leaves a shortfall for living expenses.
- Full-time extensions can boost savings but may be exhausting or impractical, whereas gig or part-time roles could be easier to maintain.