If you’re over 65 and you’re still waking up at dawn to go to work, there’s a good chance that it’s because you need the money. According to a survey by Provision Living, which is a company behind senior living communities, 60% of employees working during what used to be considered the retirement years aren’t there to keep busy or out of love for their profession. Instead, they’re holding on to their jobs because their finances make it impossible to do otherwise.

The survey looked at over 1,000 working seniors between 65 years of age and 85 years of age working at least part-time. According to their results, the three biggest reasons people that age continue to work include:

  • Being unable to live on their retirement income alone
  • The need to support other members of their family
  • The desire to pay off their debt

Those who are employed full-time may also be taking advantage of critical benefits that they need, especially health, vision and dental insurance — something that they may need in addition to Medicare to meet their needs since Medicare coverage often falls short. After all, it’s estimated that it will cost the average 65-year-old couple around $285,000 to meet their medical needs after retirement.

Everything from student loans to credit card bills and medical debt can haunt seniors well into their retirement — and force them to stay in the workforce long after they should be able to retire. If you’re among their number, it may be time to look at your other financial options, including bankruptcy. An experienced attorney can provide valuable information and guidance.