It seems like everyone is either getting a new job or thinking about it.
Many people have made job changes recently and, with low unemployment across the country, even more Americans say they want to take advantage of new career opportunities, according to the 2022 Retirement Risk Readiness Study* from Allianz Life. More importantly, workers have the upper hand in the labor right now with what’s been dubbed the Great Resignation continuing.
Of those 10 years or more away from retirement, more than a quarter said they are likely to take a new job this year, either with a new company (31%) or by going into business for themselves (26%). Even more near-retirees (those within 10 years of retirement) are planning an employment change in 2022 – 33% with a new company and 32% thinking of switching to self-employment. Some said that they wanted a new job with a higher salary because of ongoing inflation.
While some new jobs come with higher salaries and better benefits, unfortunately others do not. Some worry a change in employment could affect how they pay for necessities like housing and food (57%), according to the study. What’s concerning here is how workers think a job change could affect their retirement security:
