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The average retirement age in the United States is 61. In 1983 it was 57. The retirement age has ticked up largely because of the recession.

Historically the retirement age was much later than it was before but when Social Security policy was introduced and the benefits have increased, early retirement has since increased. Social security essentially creates incentives for the older population to stop working, since they, theoretically, can or should be sustained by the funds they have accumulated over the years they have been working, and no longer have to work anymore.

This implies that retirement is not a natural process, but a process created by policy. Since it is an action influenced by policy it is important to note that retirement is also not universal and can vary by a number of different factors; race, country, occupation, etc.

While the average retirement age is important, another important statistic to think about when thinking about average retirement age is the retirement rate. Retirement rates are an important indicator of how well social security as a policy is successful as well as another of the many economic indicators of how well the economy is doing. If retirement rates are low this may indicate that social security is not keeping up with inflation or not adjusting according to the new needs of the population receiving social security.

This concept of retirement and social security is especially important in thinking about the welfare of our older generation, as well as the implications of how much money the younger generation has to produce to support the older generation in the United States, it is especially important because of the large baby boomer population.

Social Security and retirement has been a particularly heated political issues because of this, on how the younger generation will be able to sustain the older generation.

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10y ago
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1mo ago

The average retirement age in the US is around 62-64 years old. This can vary depending on factors such as career, financial readiness, and personal preference.

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