62 – Average Retirement Age
Baby boomers are pushing retirement back further and further.
According to Gallup’s annual Economy and Personal Finance survey, the average age at which Americans report retiring is now 62.
That’s the highest reported age since Gallup started tracking this data back in 1991.
Indeed, the average self-reported age of retirement has slowly been on the rise over the last few decades.
But that average has slowly crept up to 62 over the last couple of years as boomers seem more than a little reluctant to retire.
According to the poll, nonretired Americans don’t expect to call it quits until age 66.
They may be putting off retirement due to lost savings during the Great Recession or due to insufficient savings before the economic downturn, notes Gallup.
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