US News and World Report Published New Retirement Age Facts
July 29, 2022
by Michael Yublosky
U.S. News and World Report published an article entitled “What Is the Average Retirement Age?” just this past Tuesday. It again hit on the message that all retirement is not voluntary.
A big portion of senior adults retire unexpectedly. Oftentimes it is because of health issues, theirs or a loved ones. Others are forced into retirement due to layoffs, company reorganization or closings, early retirement incentives, etc. “Basically, their employer retired them.”
The author, Emily Brandon, reported that most seniors expect to retire at age 66. But the average age of retirement is actually 61 per a Gallop pole, which is earlier than planned. “Basically, their employer retired them.” This is up two years over the average age figure from two decades ago.
Some retirees leave voluntarily because of job difficult circumstances. There is a risk that they may find landing a new position is more difficult than they expected.
The article also reported that although 70% of retirees had planned to work for money in retirement, the actual percentage is 27%. One positive reason for retiring early include affordability.
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