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The Average American Retires at This Age. Will You?
Retirement is an important milestone in everyone’s life, and most people plan for years in anticipation of the day on which they leave their jobs for the last time. With many policymakers looking with concern at the need for retirees to have enough financial resources to last for decades after they stop working, though, some believe that the best answer to making sure that people don’t run out of money in retirement is to work longer….The average retirement age for men in 2013, the most recent year for which data are available, was 63.9. For women, the average retirement age was younger, at 61.9 for 2013. Those figures were mixed from the previous year, with men retiring at a slightly older age than in 2012, while women retired a bit sooner than in the previous year….In the 1960s, men tended to retire after age 65, but over the next several decades, early retirement became more common, with average retirement age dipping below 62 by the mid-1990s. In the past 20 years, though, that downtrend reversed itself, and average retirement ages have sharply increased. Read More…