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Average Retirement Age Up to 61 in USA

Posted By Barry Ritholtz On May 18, 2013 @ 3:00 pm In Data Analysis,Wages & Income | Comments Disabled

Click to enlarge
Chart [1]
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Chart [2]

Source: Gallup [3]

 

Some key data points:

• The average retirement age has crept up by four years over the past two decades, from 57 in 1991 to the current 61

• The average nonretired American currently expects to retire at age 66, up from 60 in 1995.

• More than half of nonretirees aged 58 to 64 expect to retire after age 65, compared with 36% of nonretirees aged 50 to 57, 38% of those between 30 and 49, and just 26% of those younger than 30.

• The average age that current U.S. retirees said they retired is now 61, compared with 59 in 2003 and 57 in 1993.

• Gallup has found that Americans aged 60 to 69 who work have slightly better emotional health [4] than those who do not work, and this relationship is stronger for Americans in fair or poor health.

 


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[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2013/05/retire.jpg

[2] Image: http://www.ritholtz.com/blog/wp-content/uploads/2013/05/retire-2.jpg

[3] Gallup: http://www.gallup.com/poll/162560/average-retirement-age.aspx

[4] Americans aged 60 to 69 who work have slightly better emotional health: http://www.gallup.com/poll/140804/Physical-Health-Key-Work-Status-Wellbeing.aspx

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