The current economic conditions are causing Americans to rethink making changes to their job situation, including delaying their retirement plans.

Almost half (48%) of those who planned to retire in 2022 are reconsidering or have put that plan on hold. Another 25% of 58–74-year-olds, who were not planning on retiring in 2022, are now considering delaying retirement even further out, reveals findings from a survey by Quicken Inc, maker of America's best-selling personal finance software.

Among those who are considering delaying retirement or unretiring, the changing economic climate is top of mind: 65% cited inflation pushing up costs; 45% pointed to the decline in the stock market, and 30% cited increased interest rates, all leading to the need to work longer. Additionally, 12% said their partner’s job or compensation had been negatively impacted, and they had to help fill the gap.

“Through the end of 2021, we were in an unusual environment with plenty of jobs, a buoyant stock market, and tame inflation. In 2022, it’s a different story,” said Eric Dunn, Quicken CEO. “Given our current economic conditions, it’s more important than ever to have a financial plan and manage your spending wisely.”

Half of those who had planned to switch jobs this year are reconsidering or have put those plans on hold, as well. Asked what has given employees hesitation about changing jobs in the last six months, 40% said gas prices, 30% said the potential for recession, 12% cited rising interest rates for homeownership, and 9% said rising interest rates for student loans.

Whether they decide to switch jobs or not, people often experience some level of angst about that choice. Those who have changed jobs recently claimed a higher level of happiness versus those who did not (40% vs 25%), but almost a third (30%) on both sides still felt “frustration” with their job situation. And those who switched also felt a higher sense of regret (15% vs 7%) and guilt (12% vs 6%) versus those who did not.

There is a bright spot, however, for employees who’ve been unhappy at work but haven’t made a change due to the high value of their stock options. A quarter of employees with equity or stock options say the decline in the stock market has actually made it easier for them to consider a job change, with some already having made a switch.