Key Takeaways<\/p>\n
While average retirement age for both men and women has ticked up since the early 1990s, many people still retire before age 65<\/a>. For decades, age 65 has been considered the traditional retirement age in the United States, as it marks when most people become eligible for Medicare.\n<\/p>\n But today, that’s changing\u2014many people retire before age 65, which can be due to factors like health status, dealing with a layoff, or even having a spouse retire.\n<\/p>\n Are Americans Really Retiring at 65? <\/p>\n Data from the Center for Retirement Research at Boston College shows that the average retirement age is 64.6 for men and 62.6 for women.\n<\/p>\n \u201cLook at men; probably, really only about 40% of people, about half of people make it to age 65. So about half people retire before that, half people after that,\u201d said Geoffrey Sanzenbacher<\/a>, Professor of the Practice at Boston College, in an Investopedia interview in August 2025. \u201cFor women, those numbers are just a little bit lower. [For] 2024, we\u2019re talking about 45% of women make it to 65, [and] probably about 35% make it to 67.\u201d\n<\/p>\n Early retirement isn\u2019t always a choice though. Many people leave the workforce sooner than expected due to health problems or job loss. A spouse\u2019s retirement can also influence<\/a> an individual\u2019s retirement timeline.\n<\/p>\n \u201cI think people kind of underestimate how much their spouse’s retiring matters. A lot of people, once their spouse retires, they\u2019ll retire, too,\u201d said Sanzenbacher.\n<\/p>\n At the same time, retirement is shifting in the opposite direction for some, as a subset of older adults are continuing to work beyond age 65<\/a>.\n<\/p>\n Why Americans Are Working Longer <\/p>\n While many Americans are retiring before age 65, there are an increasing number of people who continue to work well into their later years.\n<\/p>\n According to the Center For Retirement Research data, the labor force participation rate<\/a> for men aged 55 or older has increased since the early 1990s, driving up the average retirement age for men.For women, the average retirement age has also increased since the early 1990s.\n<\/p>\n Several economic, social, and personal factors have contributed to this shift in retirement trends<\/a>, reshaping how and when Americans choose to leave the workforce.\n<\/p>\n A Changing Retirement Landscape <\/p>\n Social Security reforms, like raising the full retirement age, removing the earnings test, and increasing delayed retirement credits, have made it financially smarter to work longer.\n<\/p>\n There’s also been a significant shift from defined-benefit pensions to 401(k)s<\/a> that have eliminated incentives to retire at a fixed age. This change has also increased an individual’s financial risk, pushing many to stay employed longer to build up savings.\n<\/p>\n Education and Work Availability <\/p>\n As education levels have risen, older workers are more likely to have higher-skilled, less physically demanding jobs that support longer careers. The shift toward a service- and knowledge-based economy has made work more accessible and sustainable for older adults, especially those with college degrees.\n<\/p>\n Limited Health Coverage <\/p>\n
\nThe average retirement age is 64.6 for men and 62.6 for women, according to data from the Center for Retirement Research at Boston College.
\nYounger generations may be more likely to delay retirement due to factors like student debt, higher housing costs, and longer life expectancies.<\/p>\n