When it comes to retirement age for Americans, there are many factors that play a role including what generation they are. The average age for all of Americans to stop working is age 62. The longer you work in America, the bigger your social security check will be. The youngest Generation of Americans which is Generation Y are hoping to retire by age 59 whereas the Baby Boomer generation is expected to retire around the age of 68.
Key Takeaways:
- Americans typically hope to stop working around the age of 62 which is somewhat early for social security benefits.
- The longer you work, the longer you can delay benefits which will result in a larger social security check.
- The youngest generations hope to retire at age 59 whereas the oldest which is baby boomers expect to retire around 68.
“That’s as 83% of non-retired U.S. investors said they are confident they will be financially secure in retirement. That includes 88% of Gen Y, 82% of Gen X and 79% of baby boomers.”
Read more: https://www.cnbc.com/2022/01/03/here-is-the-age-when-many-americans-hope-to-retire.html
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