A portion of retired Americans, 12%, is likely to start working again in 2024, with 3% very likely to return to work next year and 8% somewhat likely to return, according to a survey released by ResumeBuilder.com.

Inflation and increased cost of living is the top reason for returning to work, cited by 61% of respondents. In addition, 34% of retirees said they might return to work because they did not save enough money for retirement, while 34% are returning to work to combat boredom.

“Clearly the driving factor for a majority of seniors returning to work is financial but this is not the only reason for many,” Stacie Haller, chief career advisor at ResumeBuilder.com, said in a press statement. “In my own practice, I often meet with retirees who find that they miss the camaraderie of working with others. Many still want to be in the game and are not ready to just ‘play golf.’ Many are excited about trying something new or something they always wanted to explore.”

Of the older Americans currently working full- or part-time, 25% said they had retired at one point but are now back to work, while 75% said they never stopped working, according to the report. In addition, only 8% of those currently working plan to retire next year.

Meanwhile, 66% of retirees who may return to work said they fear age bias will affect their job prospects. While 59% said they would seek a new job in a new industry, 14% said they would go back to their previous employment and 27% would seek out a new employer in the same industry.

ResumeBuilder surveyed 500 respondents in the US aged 62 to 85 on Nov. 16 for the report.