Retirement is changing, and it’s harder for people to attain the retirement they want. This Bloomberg story discusses recent data. One set of data says that Americans are retiring earlier, while the other data set says that life expectancy has stopped increasing. Americans are dying younger, on average.
At the same time that Americans’ life expectancy is stalling, public policy and career tracks mean millions of U.S. workers are waiting longer to call it quits. The age at which people can claim their full Social Security benefits is gradually moving up, from 65 for those retiring in 2002 to 67 in 2027.
Almost one in three Americans age 65 to 69 is still working, along with almost one in five in their early 70s.
Postponing retirement can make financial sense, because extended careers can make it possible to afford retirements that last past age 90 or even 100. But a study out this month adds some caution to that calculation.
Americans in their late 50s already have more serious health problems than people at the same ages did 10 to 15 years ago, according to the journal Health Affairs.