The average retirement age in the United States has been rising in recent years. While some people are able to retire relatively early, even in their 40s, others work well into their 70s and 80s. Currently, the average retirement age is 65 for men and 63 for women.
This represents a significant increase from the 1980s, when the average retirement age was around 62 for men and 57 for women. By 2016, the average had climbed to approximately 65 for men and 63 for women.
Several factors contribute to this trend of delayed retirement. Changes to Social Security, the decline of employer pensions, and increased life expectancy have all led many to postpone retirement for a few additional years. While longer lifespans play a role, experts also cite inadequate savings and reduced Social Security benefits as equally important drivers of the rising average retirement age.