Early retirement is desired... Age revealed

Empower surveyed 1,001 adults on June 2. When asked, “How old should you be to retire?” Americans responded with an average of 58.

This is significantly younger than the current retirement age. According to the Boston College Center for Retirement Research, by 2024, men will retire at an average age of 64, while women will retire at 62.

Even at these average ages, workers may not have planned to retire. According to a 2024 report by the Transamerica Center for Retirement Studies and the Transamerica Institute, many Americans (58 percent) are retiring earlier than they expected.

Among those retiring early, 46 percent cited health issues, 43 percent cited work-related issues, and 20 percent cited family reasons. Only 21 percent said they retired early because they wanted financial stability.