Going Back to Work Later in Life and Why the Housing Market Feels So Stuck

August 13, 2026

AI Summary

5 min read

"Put away any amount of money you can monthly, even if it's $20. It's just amazing how much it adds up." That advice comes from Claire, a 69-year-old Portland resident who joined NerdWallet's Smart Money Podcast to talk about a predicament facing many older Americans: she has over $200,000 in a conservatively invested IRA and a fixed income from Social Security, but rising costs have pushed her back into work. She describes her finances as "red" because her expenses—roughly $5,000 a month including a $3,000 mortgage—exceed her combined Social Security ($2,400) and part-time bookkeeping income ($2,000) by about $600 each month. The episode pairs her story with analysis from wealth advisor Ryan Sterling, who walks through the math of retirement shortfalls, the psychology of working longer, and the concrete levers available to someone in her position.

The Math of a Shortfall: Why Working Longer Changes Everything

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What you'll learn

1 (01:10) **Claire's Situation: Going Back to Work at 69** - A 69-year-old retiree shares her financial anxiety and the need to return to work.
2 (03:16) **The First Step: Assessing the Gap Between Income and Expenses** - Ryan explains how to start building a retirement plan when the numbers don't add up.
3 (05:06) **Investment Strategy: Why "Conservative" Can Be Risky in Retirement** - Ryan challenges the idea that retirees should avoid stocks, explaining the need for a growth engine.
4 (08:10) **The Math of Retirement: How Long Will the Money Last?** - Ryan runs a back-of-the-envelope calculation showing the stark reality of Claire's current savings.
5 (11:46) **The Hidden Lever: Home Equity as a Future Option** - Ryan points out that Claire's home, while not currently generating income, could be a key asset later.
6 (12:28) **Reverse Mortgages and Other Levers** - Claire and Ryan discuss the pros and cons of using home equity and other strategies to close the gap.
7 (13:59) **The "Golden Girls" Solution: Sharing Expenses** - The hosts explore the social and financial challenges of downsizing or finding a roommate.

+ Full timestamped outline available in the app

Guests on this episode

Ryan Sterling

Show Notes

Learn why a 69-year-old retiree is returning to work and why homeowners are staying put in a stuck housing market.

What happens when your nest egg doesn't grow fast enough to support your retirement? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola talk with a 69-year-old listener who's returning to work after years of overly conservative investing left her savings falling behind. NerdWallet Wealth Partners CEO Ryan Sterling joins the conversation to help her think through how much investment risk to take at this stage, what required minimum distributions will mean for her taxes, and whether working even a little longer could change her outlook.

Then: why does it feel so hard to find a home to buy right now? Senior news writer Anna Helhoski talks with NerdWallet mortgage writers Abby Badach Doyle and Kate Wood about why so many homeowners are choosing to stay put — and how that's limiting the number of homes on the market for everyone else.

NerdWallet Wealth Partners, LLC is an affiliate of NerdWallet Inc. NerdWallet Wealth Partners is a fiduciary online financial advisor, offering low-cost, comprehensive financial advice and investment management. Learn more at nerdwalletwealthpartners.com/smart

The NerdWallet Homebuying Climate Index tracks how favorable conditions are for home buyers each month: NerdWallet Homebuying Climate Index

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