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Gallup – Expected Retirement Age in U.S. Up to 67

Gallup: “The average nonretired American now expects to retire at age 67, up from age 63 a decade ago and age 60 in the mid-1990s. The results are from Gallup’s annual Economy and Personal Finance survey, conducted April 9-12. Overall, 26% of nonretirees expect to retire before age 65, with 27% expecting to retire at age 65 and 39% after age 65. The percentage that expect to retire after age 65 is up from 21% in 2002 and 12% in 1995. Gallup also finds a steady, although less steep, increase in the average age at which retirees actually retired, from age 57 in 1991 to age 60 today. The average retirement age first reached 60 in 2004 and has generally held there since. That average should increase in future years if current nonretirees delay their retirement, as they expect to do…In addition to national economic problems, there remain serious questions about the long-term health of Social Security and Medicare, two programs that have helped U.S. retirees for at least five decades. Proposals to shore up Medicare and Social Security often involve increasing the age at which Americans are eligible for benefits, which could push U.S. workers’ expected retirement age even higher in the future.”

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