What age should you retire?

Answer 1

Age is actually not the most important factor in deciding when to retire, it only approximately correlates to the two primary factors, which are finances and health. In theory, you get both wealthier and less healthy as you age, and if these trends follow the expected trajectory, you will retire at the precise moment when you can both afford to retire, and you are having difficulty in continuing to work anyway, due to declining health. It was once imagined that this would happen at the age of 65. In reality, most people will not precisely conform to that model. Some people will never really be able to afford to retire (many people are just counting on winning the lottery, which unfortunately for them, is extremely unlikely to happen) while other are already wealthy in their 20's and can retire whenever they want to. Some people remain quite healthy well into the 80's, while others get sick while they are still young. So really, retirement is a very individual matter. You retire when the time is right for you, not at a specific age. But if you need a specific age, 65 is traditional.

Answer 2

The age at which you retire can vary depending on personal circumstances such as financial preparedness, health, and personal goals. The traditional retirement age is around 65, but some people choose to retire earlier or later based on their individual situation and preferences. It's important to plan for retirement starting early to ensure you have enough savings and income to support yourself.