The 401(k) plan is exhausted, savings have shriveled and that monthly Social Security payout doesn’t come close to covering basic monthly expenses.
In Florida and elsewhere around the U.S., many retirees are gravitating toward the same solution: They’re “unretiring” and heading back to work.
Fort Lauderdale ranks fourth and Hollywood ninth among U.S. cities with the most working seniors, a national survey has found. And other large metropolitan areas in Florida such as Tampa, Orlando and Jacksonville aren’t far behind..
“Whether it’s due to delaying retirement or ‘unretiring,’ one in four seniors in Fort Lauderdale are still participating in the workforce,” said Collin Czarnecki, researcher for LLC.org., a Nevada-based online service provider for small business that surveyed 170 U.S. cities. “That’s higher than the national average, which is 18%.”
Of a total senior population of 34,756, there are 9,149 or 26.3% employed in Fort Lauderdale. Their median household income: $50,078. In Hollywood, the survey placed the senior population at 31,526 with 7,814 or 24.8% still on the job. Their median household income is listed at $37,422. Pembroke Pines came in 95th with 6,526 or 18.9% of its reported 34,541 seniors working. The income median among seniors is listed as $44,024.
Nationally, nearly one in five seniors aged 65 and over are still in the workforce, which is more than 10.6 million people, Czarnecki said.
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