The Average Retirement Age Is?
Manage episode 361337787 series 3386110
The Average Retirement Age Is?
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In today's episode of The Retire One Show, we dive into the findings from Gallup that show people are retiring later than ever before. In the past three decades, the average reported retirement age among American workers has increased from 57 to 61, with nonretirees' target retirement age rising from 60 in 1995 to 66 today. In this video, we'll explore the reasons behind this shift, including changes in Social Security benefits, longer life expectancies, and a transition to a service and information-based economy that allows for working into older age.
We'll examine how these factors are contributing to the gap between expected and actual retirement ages, as well as the trend of fewer Americans aged 55 to 74 being retired compared to the start of the 21st century. We'll also discuss how household income may play a role in this shift towards later retirement, although the extent of its impact remains unclear.
Join us as we delve into the complexities of retirement decisions and how the landscape has evolved over time.
If you have questions or comments for the show email us Retire@theoremwm.com or head to www.Retireonceshow.com
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Disclaimer: Johnathan Rankin is a Registered Representative of Sanctuary Securities Inc. and an Investment Advisor Representative of Sanctuary Advisors, LLC. Securities offered through Sanctuary Securities, Inc., Member FINRA, SIPC. Advisory services offered through Sanctuary Advisors, LLC., an SEC Registered Investment Advisor. Theorem Wealth Management is a DBA of Sanctuary Securities, Inc. and Sanctuary Advisors, LLC.
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