What's the average retirement age?

[imoldernu]

Google results to the question total 126 million.

Here's one site that explores some of the answers.

https://dqydj.com/average-retirement-age-in-the-united-states/

 

[imoldernu]

...and a related subject... the average retirement income.

https://www.usatoday.com/story/money/personalfinance/retirement/2018/07/22/could-you-get-by-on-average-retirement-income/36848957/

 

[Bir48die]

Well, if the bottom drops out we'll have to live off $90,000 per year.

 

[Dtail]

Sounds like people are starting to now retire a little later than in the recent past.
The average retirement age on this site is probably somewhere between 55 and 57 years old (my very unofficial observation), which would still be in the lower percentages of all retirees.

 

[Winemaker]

DW couldn't limit her shoe budget to some of these numbers.

 

[aaronc879]

Those numbers are clearly the average not the median. They are high due to the super high income people. The majority of retired people do not have that much income.

 

[Bamaman]

I made 58 1/2 years old. Just about all my close friends from high school were retired by 62. I can only think of one working @ 68 years old.

 

[truenorth418]

According to another USA article, about 34% begin collecting Social Security at age 62. That’s by far the most popular age to begin collecting benefits.

 

[ER Eddie]

So average = 60, and median/mode = 62. Interesting. I thought average retirement age was higher than that, maybe 65.

I wonder if they define "retirement" as no paid work at all, or whether someone who retires from their full-time career but then goes to work part-time somewhere else would be considered "retired."

The average retirement age on this site is probably somewhere between 55 and 57 years old (my very unofficial observation).

I remember it being either 55 or 56, in a poll.

 

[donheff]

Interesting that non-health related recent retirees averaged 63 with a most common choice of 70. That reflects what I saw in many of my friends - leaning toward late 60s.

 

[pjigar]

As lot of people on this forums would say: Averages are useless. You need to focus on what works for you and your family.

 

[MRG]

As lot of people on this forums would say: Averages are useless. You need to focus on what works for you and your family.

I watched a few co-w*rkers who all fell into the trap of using averages and extrapolating them. One by one they all learned why that was a really bad idea.

 

[ER Eddie]

Well, I don't think anyone would use averages to make decisions. "The average age for retirement is 62, and I'm 62, so I guess it's time for me to retire."

I think people are using averages (or medians) to compare. We're an early retirement forum, so we want to see how "early" we are, relative to most other people.

I'm actually a little less "early" than I thought I'd be. I'll be nearly 58 by the time I fully retire, and that's only a couple years early, relative to the average of 60. I prefer to use the median of 62 as a point of comparison, though, partly because it makes me feel better but also because I think median is a better measure than mean, in this case.

 

[Teacher Terry]

The early retirees I know did it for health reasons or to take care of a ill spouse. Even if someone picks up a part time gig because they want to I consider them semi-retired. For me that’s been the best of both worlds. Also know people that got laid off and not able to find full time work in their field.

 

[Offgrid Organic Farmer]

My health issues did not start until after I was retired for 15 years.

My bride and I agreed to focus on retiring as young as possible, back when we were courting. So starting before we were married, this was our goal.