When is the perfect time to retire? It is determined by who’s answering the query, however that reply provides meals for thought for senior housing builders and suppliers creating and renovating areas for older adults.
In just lately revealed outcomes of a survey of Individuals, the reply, on common, was 61.8 years — greater than 5 years earlier than a present 61.8-year-old would be capable of acquire full Social Safety and greater than three years earlier than that particular person can be eligible for medical health insurance by way of the Medicare program.
The Pew Analysis Middle carried out a web-based survey of three,600 US adults in April 2024, then analyzed the outcomes and revealed them a month in the past.
Typically, Pew mentioned, when requested the perfect age to retire, survey-takers aged fewer than 30 years thought it was greatest to retire earlier in life (on common, simply earlier than 60) in contrast with individuals aged 65 or extra years (who mentioned the perfect age is 65). Additionally, Individuals in upper-income households tended to say it’s best to retire at a youthful age (61.2) versus adults in lower-income households (62.6).
The survey, nevertheless, additionally sought responses about sure age ranges for retirement. In the most well-liked reply among the many age ranges offered, 34% mentioned there is no such thing as a greatest age to retire.
The second-largest share of members, nevertheless, 26%, mentioned that the perfect age to retire was 65 to 69 (19% mentioned 60 to 64, 7% mentioned 55 to 59, 4% mentioned 50 to 54, and 1% mentioned earlier than 50).
The survey didn’t outline retirement and didn’t ask respondents to take action both. The query requested was: “In your opinion, what’s the greatest age to … retire.” (The survey centered on “household and monetary milestones,” and members additionally had been requested for his or her ideas on the perfect ages to get married, have a primary baby and purchase a house.)
However Pew famous that “[o]ver the years, extra Individuals have been working web page age 65, and 19% of Individuals ages 65 and older had been employed in 2023.”
In case you’re curious what residents of different nations assume is the perfect retirement age, Pew additionally surveyed individuals from 18 different middle-income nations and located that the reply ranged from 52.1 years in Colombia to 62.7 years in Nigeria. The 18-country common was 57.9 years.
Lois A. Bowers is the editor of McKnight’s Senior Dwelling. Learn a few of her different columns right here. Observe her on X (previously Twitter) at Lois_Bowers.
