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Don’t Count on Working Longer: Saving More Now Is the Safer Bet

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Many Americans are hoping to work past the traditional retirement age to increase their savings. While this strategy may seem smart, it comes with big risks—and experts warn it might not work out the way people expect.

Working longer can offer financial benefits. Extra years on the job mean more time to save money in retirement accounts like a 401(k) or IRA. In 2025, workers can contribute up to $24,500 to a 401(k), and if you’re 50 or older, you can put in up to $32,000. For IRAs and Roth IRAs, the limit is $7,500, or $8,500 for those 50 and up.

Delaying Social Security is another benefit. People who wait past their full retirement age (which is 67 for anyone born in 1960 or later) get a larger monthly check. For every year you delay—up to age 70—your benefit increases by 8 percent. That means someone who waits from age 67 to 70 could receive 24 percent more each month. With the average Social Security check at around $2,000 per month in 2025, that’s a meaningful boost.

But despite these rewards, working longer isn’t always possible.

A recent 2025 survey by the Employee Benefit Research Institute found that nearly half of retirees—48 percent—left work earlier than planned. Only a small number left because they felt financially secure. Most retired early because they had to, often due to health problems or disability.

Other common reasons for early retirement include job loss, company downsizing, or age discrimination in the workplace. Some people—especially women—leave jobs early to care for aging parents or sick spouses.

Health is a major factor. A 2025 study from Willis Towers Watson found that people in poor health are more likely to plan on working longer, but they are also more likely to be forced out early because of health-related limits.

That’s why experts say the safer strategy is to save more now, while you still can.

Putting more money into retirement accounts as early as possible helps build a stronger safety net, even if you can’t work as long as you hope. Saving early also gives your investments more time to grow.

It’s also smart to think beyond just retirement accounts. Some people build multiple income streams, like part-time work, rental property, or small side businesses. Having more than one way to earn money in retirement can add financial stability if plans change.

While no one can predict the future, one thing is clear: depending too much on the idea of “working longer” can be risky. Life doesn’t always go as planned. But saving more now is one thing you can control—and it could make all the difference in your retirement years.

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