This Is the ‘Real’ Retirement Age in America — Do You Have Enough Saved To Be Comfortable?
Written by
Andrew Lisa
Edited by
Zuri Anderson
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Retirement is a loosely defined concept that alludes to life beyond your working years, but for many, it still involves at least part-time employment or business ownership. It’s also tied to participation in programs such as Social Security and Medicare.
For many, however, retirement is mostly a stage of life or, or more specifically, an age — but with so many possible variations, what is the real retirement age in America, and how much do you need to have saved at that age to live comfortably?
The Average Age — or Ages
There is no universally applicable “real” retirement age. However, the 25th Annual Transamerica Retirement Survey reports that the median adult retires at age 62.
The Employee Benefit Research Institute’s Retirement Confidence Survey found that the average age is also 62. A Boston College study based on census data concluded that it varies by gender — 62.6 for women and 64.6 for men.
All of those ages, however, are early by most measurable standards, even if they’re the most common.
The Retirement Milestone Ages
While several credible studies found that the average or median person retires in their early 60s, many people time their retirements to coincide with specific retirement benchmarks.
- 62: The earliest age of Social Security eligibility, which is likely why it’s such a common age for retirement. According to Employee Benefit News, many claim benefits as soon as they’re eligible because they need the income, while others do so for extra money to invest. Either way, your benefit is reduced every month you file before your full retirement age, by up to 30% for those who claim at 62.
- 65: Historically, this was the standard retirement age and is the current age of Medicare eligibility.
- 67: The full, or normal, retirement age for those born in 1960 or later, when your full Social Security benefit is guaranteed.
- 70: The final year of delayed retirement credits, which can increase your benefit by up to 24%.
So, How Much Do I Need To Be Comfortable?
The ideal nest egg varies by age, life expectancy, location and lifestyle. However, Northwestern Mutual’s 2026 Planning and Progress study found that the average American expects to need $1.46 million to retire comfortably. That’s a 15% increase of $200,000 over 2025, when the typical adult thought $1.26 million would prevent them from outliving their money.
Using the 4% rule, $1.46 million is enough to provide $58,400 in the first year of retirement, with inflation adjustments in subsequent years, for 30 years. That’s just shy of the median annual income of $62,208, according to the Bureau of Labor Statistics.
The Social Security Administration reports an average monthly benefit of $2,079.49, nearly $25,000 more per year. Therefore, the average retiree with the average Social Security payment and a $1.46 million nest egg would have to live on $87,000 per year — but only you know if that could provide a comfortable retirement for you.
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