The average retirement age in America is 62.6 years — well below the full Social Security age of 67. The most common single retirement age is 62, the earliest age to claim Social Security, though doing so permanently reduces benefits by up to 30%. Americans are working longer than previous generations, but most still retire before their full benefit age. This data covers retirement age by state, gender, income, occupation, and how the trend has shifted over time.
Average Retirement Age Overview
| Metric | Age |
|---|---|
| Average retirement age | 62.6 years |
| Most common retirement age | 62 |
| Full Social Security retirement age (born 1960+) | 67 |
| Maximum Social Security benefit age | 70 |
| Average years in retirement | 18-20 years |
| Percentage retiring before 60 | 21% |
| Percentage retiring at 62 | 19% |
| Percentage working past 70 | 11% |
The gap between the average retirement age (62.6) and full Social Security age (67) means most Americans claim a permanently reduced benefit. Only 11% work past 70, though waiting until 70 produces the maximum possible Social Security payment — 124% of the full benefit. The average retirement savings for Americans near retirement age make this timing decision critical: insufficient savings often forces early claiming even when delaying would be financially superior.
Average Retirement Age by State
The state-level variation in retirement age is largely driven by two factors: the type of work prevalent in that state’s economy and median household income. West Virginia retires earliest (59.8) because its workforce is dominated by physically demanding industries — mining, construction, logging — where workers’ bodies often give out before their savings do. DC retires latest (65.1) because its economy is overwhelmingly professional and government jobs, which tend to carry better pensions, higher salaries, and less physical wear. States with the oldest average retirement ages cluster in the Northeast and Mid-Atlantic; the youngest cluster in the South and Appalachia.
| State | Avg. Retirement Age | Median Household Income |
|---|---|---|
| West Virginia | 59.8 | $52,500 |
| Mississippi | 60.2 | $48,600 |
| Alabama | 60.5 | $54,900 |
| Arkansas | 60.7 | $52,100 |
| Louisiana | 60.8 | $54,200 |
| Kentucky | 61.0 | $55,400 |
| Oklahoma | 61.1 | $57,300 |
| Tennessee | 61.2 | $59,700 |
| South Carolina | 61.3 | $60,400 |
| Montana | 61.4 | $60,100 |
| Indiana | 61.5 | $61,900 |
| Wyoming | 61.6 | $67,200 |
| Idaho | 61.7 | $63,800 |
| Missouri | 61.8 | $61,700 |
| North Carolina | 61.9 | $63,700 |
| Georgia | 62.0 | $64,900 |
| Iowa | 62.0 | $66,300 |
| Ohio | 62.1 | $62,900 |
| Kansas | 62.2 | $65,800 |
| Nebraska | 62.2 | $68,100 |
| South Dakota | 62.3 | $63,600 |
| North Dakota | 62.4 | $69,700 |
| Michigan | 62.4 | $63,500 |
| New Mexico | 62.5 | $54,200 |
| Wisconsin | 62.6 | $67,300 |
| Texas | 62.7 | $68,200 |
| Nevada | 62.7 | $67,000 |
| Arizona | 62.8 | $66,800 |
| Florida | 62.9 | $65,400 |
| Maine | 62.9 | $65,100 |
| Pennsylvania | 63.0 | $70,900 |
| Vermont | 63.0 | $72,400 |
| Minnesota | 63.1 | $80,100 |
| Illinois | 63.2 | $73,000 |
| Oregon | 63.2 | $73,800 |
| Delaware | 63.3 | $78,700 |
| New Hampshire | 63.4 | $87,000 |
| Hawaii | 63.4 | $89,000 |
| Rhode Island | 63.5 | $74,500 |
| Virginia | 63.5 | $82,400 |
| Colorado | 63.6 | $84,900 |
| Utah | 63.6 | $78,800 |
| California | 63.7 | $84,100 |
| Alaska | 63.8 | $79,400 |
| Washington | 63.9 | $90,400 |
| Maryland | 64.0 | $94,000 |
| New York | 64.0 | $81,400 |
| New Jersey | 64.1 | $97,100 |
| Massachusetts | 64.2 | $96,500 |
| Connecticut | 64.3 | $90,200 |
| District of Columbia | 65.1 | $101,700 |
Average Retirement Age by Gender
The 1.1-year gender gap in retirement age has several compounding causes. Women are more likely to step back from work during peak earning years for caregiving, which reduces both lifetime earnings and retirement savings. Lower average savings push women toward claiming Social Security earlier. Women also statistically outlive men by about 5 years, making the delayed-claiming tradeoff even more valuable for them — yet they claim earlier on average. Coordination with a spouse’s retirement timeline is also a major factor: among married couples, the younger spouse (often the wife) tends to retire to align with the older spouse.
| Gender | Average Retirement Age | % Retiring Before 62 | % Working Past 65 |
|---|---|---|---|
| Men | 63.1 | 34% | 28% |
| Women | 62.0 | 40% | 22% |
| Gap | 1.1 years | — | — |
Women tend to retire earlier due to caregiving responsibilities, lower lifetime earnings (affecting savings), and spousal retirement coordination.
Average Retirement Age by Occupation
Occupation is one of the strongest retirement age predictors. Physical labor jobs push workers out in their late 50s regardless of financial readiness — bodies wear down, injuries accumulate, and disability becomes a pathway to early retirement. Military and public safety careers have structured early retirement incentives (20-year pension eligibility) that pull workers out in their 40s and 50s. Knowledge economy workers — lawyers, physicians, engineers, executives — work into their mid-to-late 60s because their work is mentally rather than physically demanding and the financial rewards of continued work remain high. Physicians retire latest of any profession largely because of the decade-long training investment that delays peak earnings until the mid-30s.
| Occupation | Average Retirement Age | Key Factor |
|---|---|---|
| Construction / physical labor | 58-60 | Physical demands |
| Military | 42-45 (first career) | 20-year pension |
| Law enforcement / fire | 55-57 | Early pension eligibility |
| Teaching | 59-62 | Pension rules vary by state |
| Healthcare workers | 62-63 | High stress, shift work |
| Office / administrative | 63-64 | Less physical, moderate pay |
| Engineers / tech | 63-65 | Higher savings, less physical |
| Lawyers | 65-67 | High income, intellectual work |
| Physicians | 65-68 | Long training, high income |
| Business owners / executives | 66-70 | Financial incentives to continue |
Retirement Age Trends Over Time
Average retirement ages bottomed out around 2000 and have been rising since. The primary drivers are the decline of defined-benefit pensions (which guaranteed income at fixed ages), the shift to 401(k)s (which transfer timing risk to individuals), and longer healthy lifespans. The Social Security full retirement age was also raised from 65 to 67 for workers born in 1960 or later — a change that directly shifted the incentive window. Despite the trend toward later retirement, the increase has been modest: men have added just 1.1 years to average retirement age over 36 years.
| Year | Average Retirement Age (Men) | Average Retirement Age (Women) |
|---|---|---|
| 1990 | 62.6 | 60.3 |
| 2000 | 62.0 | 60.8 |
| 2010 | 63.0 | 61.5 |
| 2020 | 63.0 | 62.0 |
| 2026 | 63.1 | 62.0 |
Retirement ages have been gradually increasing since the mid-1990s as lifespans extend and pensions become less common.
Why People Retire When They Do
The most important insight from retirement timing research is that the majority of retirements are involuntary. Health problems, layoffs, and caregiving responsibilities together account for roughly 59% of retirements — meaning fewer than half of Americans actually retire on their own schedule. This has serious financial implications: workers who plan to work until 67 or 70 but are forced out at 62 due to health or job loss face years of unplanned early retirement without adequate savings. The retiring at 62 guide covers the financial impact of this scenario in detail.
| Reason for Retiring | % of Retirees |
|---|---|
| Health problems | 35% |
| Reached financial goal | 22% |
| Laid off / job loss | 14% |
| Caregiving responsibilities | 10% |
| Wanted to enjoy life | 12% |
| Company downsizing | 7% |
Notably, only 22% retire because they planned to — the majority are pushed by health, layoffs, or life circumstances. This underscores the importance of saving early.
Social Security and Retirement Age
Your Social Security benefit changes dramatically based on when you claim. The difference between claiming at 62 versus 70 is not marginal — it’s a permanent 54-percentage-point gap in monthly income for life. On a $2,500 full benefit, that’s $1,750/month at 62 versus $3,100/month at 70, a $1,350/month difference that compounds over decades. The break-even age between claiming at 62 and 70 is roughly 80 — meaning anyone who lives past 80 collects more lifetime income by waiting. See when to claim Social Security for a full break-even analysis.
| Claiming Age | % of Full Benefit | Monthly Benefit (if full is $2,500) |
|---|---|---|
| 62 | 70% | $1,750 |
| 63 | 75% | $1,875 |
| 64 | 80% | $2,000 |
| 65 | 86.7% | $2,167 |
| 66 | 93.3% | $2,333 |
| 67 (full) | 100% | $2,500 |
| 68 | 108% | $2,700 |
| 69 | 116% | $2,900 |
| 70 | 124% | $3,100 |
Each year you delay past 62 increases your benefit by 5-8%. For more, see when to claim Social Security.
How Much Do You Need to Retire?
Each year of earlier retirement requires more savings for two reasons: more years to fund and lower Social Security income (because you’re claiming earlier). The table below uses a $60,000/year spending target and the 4% rule as a rough savings benchmark. Actual needs vary by Social Security income, healthcare costs, and spending. A couple claiming at 62 with a $1,750/month combined Social Security benefit receives about $21,000/year — leaving $39,000/year to be funded from savings, requiring roughly $975,000 in portfolio assets on the 4% rule.
| Retirement Age | Years to Fund (to Age 85) | Savings Needed ($60k/yr spending) |
|---|---|---|
| 55 | 30 years | $1,800,000 |
| 60 | 25 years | $1,500,000 |
| 62 | 23 years | $1,380,000 |
| 65 | 20 years | $1,200,000 |
| 67 | 18 years | $1,080,000 |
| 70 | 15 years | $900,000 |
Earlier retirement means more savings needed. Use our retirement savings calculator or FIRE calculator to plan your numbers.
Average Retirement Age by Income Level
Income is the single strongest predictor of retirement age. High earners retire later by choice; lower earners often retire early by necessity — poor health or job loss — without adequate savings.
| Household Income | Average Retirement Age | Primary Driver |
|---|---|---|
| Under $30,000 | 60.2 | Health problems, layoffs |
| $30,000–$50,000 | 61.5 | Limited savings, physical jobs |
| $50,000–$75,000 | 62.4 | Near Social Security claiming age |
| $75,000–$100,000 | 63.3 | Better savings, more options |
| $100,000–$150,000 | 64.1 | Substantial savings, planning flexibility |
| Over $150,000 | 65.6 | Work by choice, maximizing benefits |
Lower-income workers are more likely to claim Social Security at 62 — the earliest possible age — because they need the income, even though this permanently reduces their monthly benefit by up to 30%. For strategies to make fixed retirement income last longer, see managing money in retirement.
The Early Retirement Cost
The three-year Medicare gap between 62 and 65 is one of the most overlooked costs of early retirement. Without employer coverage, a 62-year-old must purchase individual health insurance for three years — often $600–$1,200/month per person at that age, or $21,600–$43,200 before Medicare kicks in. This healthcare cost alone can consume a significant portion of the $300,000 savings gap between retiring at 62 versus 67.
Retiring at 62 vs. 67 has a large financial impact that compounds over time:
| Factor | Retire at 62 | Retire at 67 | Difference |
|---|---|---|---|
| Social Security benefit | 70% of full | 100% of full | 30% less for life |
| Years of retirement (to 85) | 23 years | 18 years | 5 more years to fund |
| Medicare eligibility | Not yet (age 65) | Yes | Need 3 yrs private insurance |
| Savings needed ($60k/yr spend) | ~$1.38 million | ~$1.08 million | $300,000 more |
Worked Example: Retiring at 62 on $800,000
To make this concrete, consider a single person retiring at 62 with $800,000 in a 401(k)/IRA and a Social Security full benefit of $2,200/month.
Social Security: Claiming at 62 reduces the $2,200 full benefit by 30%, yielding $1,540/month ($18,480/year).
Savings gap: Targeting $60,000/year in spending, the shortfall is $60,000 − $18,480 = $41,520/year to be drawn from savings.
How long savings last: $800,000 ÷ $41,520 = approximately 19 years, meaning savings run out at roughly age 81 — before average life expectancy of 84.2 for a 62-year-old woman.
The delay benefit: Waiting just three years to 65 reduces the benefit cut to 13.3% ($1,907/month, or $22,884/year). The savings gap drops to $37,116/year. The same $800,000 now lasts 21.5 years, running out at age 86.5 instead.
The Medicare bridge: Health insurance from 62–65 typically costs $700–$1,000/month on the ACA marketplace at this income level — an additional $25,200–$36,000 cost that must be budgeted before Medicare kicks in.
| Scenario | SS Income | Gap from Savings | Savings Last Until |
|---|---|---|---|
| Claim at 62 | $1,540/mo | $41,520/yr | ~Age 81 |
| Claim at 65 | $1,907/mo | $37,116/yr | ~Age 86 |
| Claim at 67 | $2,200/mo | $33,600/yr | ~Age 90 |
| Claim at 70 | $2,728/mo | $27,264/yr | Never (covered) |
This example illustrates why most financial planners recommend delaying Social Security — especially when savings are moderate. See the full retiring at 62 guide for detailed scenarios.
Bottom Line
While the average American retires at 62.6, many are forced into earlier retirement by health or job loss. Building adequate savings, understanding your Social Security benefits, and having a realistic plan for how much you need to retire are essential regardless of when you plan to stop working.
For more on retirement planning at every age, see the Retirement Planning hub.
For more on retirement planning at every age, see the Retirement Planning hub.
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