(NewsNation) — The golden years are looking different for a growing number of older Americans who are staying at their jobs and becoming a larger part of the workforce.

According to the Bureau of Labor Statistics, more than 1 in 5 workers were 55 or older in 2023. In that same year, 15% of workers were between 55 and 64, and about 7% were 65 or older.

For some, the decision to stay in the workforce past retirement age is based on a desire to stay active and engaged. For others, money is the most significant factor.

Nearly 80% of older workers said they are still working because they need the paycheck or because they want to keep building their retirement savings, according to the Transamerica Center for Retirement Studies.

A recent survey from insurance company Allianz Life found 64% of Americans worry more about running out of money than they do about dying. Reasons include high inflation and taxes, as well as a lack of support from Social Security benefits.

The survey showed the fear of running out of money was more prominent in Gen Xers (70%), who are in their 40s and 50s, than in Baby Boomers (61%), who may have already retired.

A survey from Northwestern Mutual reported that 51% of Americans “somewhat or very likely” believe they will outlive their savings.

Experts have said with risks like market volatility, creating a strong retirement or financial strategy with the help of a financial professional could help ease these worries.