The rising levels of Covid-19 is not stopping many seniors from pursuing in-person work, according to the latest Retirement Confidence Index report published by SimplyWise, a fintech focused on retirement planning.
In a survey of 1,090 adults conducted from Nov. 8-10, 35% of respondents 60 and older stated they are willing to risk getting Covid in order to work. For the full body of respondents, which range from 18 and up, 56% said they were willing to take this risk.
Money is driving this decision to continue working in the face of the pandemic. Nearly half of the respondents who were laid off or furloughed due to Covid saved $0 for retirement in the last year. Seniors are particularly concerned about their financial health, with 71% of respondents ages 70 and older expressing concern about Social Security drying up and 43% worrying about outliving their savings in retirement.
“You need to do what is right for your personal financial situation to get through these challenging times,” Sam Abbas, CEO of SimplyWise, said in a statement. “But given today’s uncertainty, it’s more important than ever that when you’re back on your feet, you prioritize organizing your finances, understanding what you’re owed in earned, spousal or survivor benefits from Social Security, and investing in your future.”
