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Why people are retiring later and later
From a low average age of 62 in the 1980’s to an average of 65 today, the retirement age for men has been steadily increasing. Similarly, women are also waiting longer to retire, now about 62 on average, up from their mid to late 50’s just three decades ago. The reasons for this are many, but prominent among them are improved healthcare, the gradual disappearance of traditional pension plans, and changes to Social Security’s rules to encourage later retirement. This MarketWatch article by Alicia H. Munnell explores this phenomenon and the reasons for it. Click here to read more.