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Jaw-Dropping Stats About the State of Retirement in America

GOBankingRates Logo By Jordan Rosenfeld of GOBankingRates | Slide 1 of 11: Many Americans spend their lives working hard and dreaming of the day they can finally retire. But planning for retirement requires more than dreaming — it means being strategic and focused on saving money, among other things. The average age of retirement for Americans is 66, according to a Gallup poll, which is up from age 60 in the 1990s. With Americans living an average of 78.7 years, that’s a good 12 or more years of time to enjoy life after work, at a hopefully slower pace. Read: Social Security Cost-of-Living Adjustments Aren’t Enough to Pay Higher Costs for Seniors Find Out: The Average Retirement Age in Every State Of the 47.8 million Americans ages 65 and older, the average income is only $38,515 dollars, according to the U.S. Census, and their average net worth is $170,516. With numbers like that, saving for retirement can be challenging. Here are other shocking statistics about the state of retirement in the U.S. Last updated: Sept. 16, 2021

Many Americans spend their lives working hard and dreaming of the day they can finally retire. But planning for retirement requires more than dreaming — it means being strategic and focused on saving money, among other things. The average age of retirement for Americans is 66, according to a Gallup poll, which is up from age 60 in the 1990s. With Americans living an average of 78.7 years, that’s a good 12 or more years of time to enjoy life after work, at a hopefully slower pace.

Read: Social Security Cost-of-Living Adjustments Aren’t Enough to Pay Higher Costs for Seniors
Find Out: The Average Retirement Age in Every State

Of the 47.8 million Americans ages 65 and older, the average income is only $38,515 dollars, according to the U.S. Census, and their average net worth is $170,516. With numbers like that, saving for retirement can be challenging. Here are other shocking statistics about the state of retirement in the U.S.

Last updated: Sept. 16, 2021
© Ruslan Guzov / Shutterstock.com

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