Sumary of This is the age when Americans say they plan to retire:
- Yet one big concern about their golden years looms over them – whether or not they will have financial security.
- The anticipated retirement age, however, varied by generation.
- Even so, 41% of respondents said achieving financial security in retirement is “going to take a miracle,” the survey found.
- While there is a general sense of confidence, the results show there are a number of questions people have with regard to retirement planning, said Dave Goodsell, executive director at Natixis’ Center for Investor Insight.
- Notably, the average retirement age for that broader group around the world was also 62.The U.S. results show the older people get, the more retirement is elusive, Goodsell said.
- For baby boomers, the 68 number may also be prompted by a key threshold for Social Security, he said.
- Age 62 is the year at which people first become eligible for Social Security benefits.
- However, by claiming early, they will receive permanently reduced monthly benefits.