Story at a glance
- A new Gallup survey shows that the average person in the United States is retiring at 61.
- In 1991, the average age at which U.S. workers retired was 57.
- The new survey also shows that the workers are expecting to be able to retire later at 66.
Americans are retiring at later ages compared to 30 years ago.
The average worker in the United States now retires at 61, four years older than in 1991, according to new Gallup data.
Along with the actual age of retirement, Americans’ expected age of retirement has also gone up.
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In 2022, the average American worker thinks that they will be able to retire from working by age 66 while people in 1995 expected to retire once they reached 60 years of age.
The data is based on Gallup’s Economy and Personal Finance survey, which is conducted every year in April. Gallup has asked about retirement ages in the annual survey since 2002 and has updated trends “asked periodically” in other polls since the early and mid 1990s.
The trend to retire at a later age coincides with an increase in the age when people can receive retirement benefits.
In 1983, Congress upped the age at which U.S. workers could get retirement benefits, with all people born after 1960 eligible to receive reduced benefits at 62 and full benefits at 67.
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