Age of retirement continues to increase

The average age for retirement is the highest it has been for the past 30 years, sitting at 61, according to a July 22 Gallup poll.

Gallup uses data from its annual economy and personal finance survey to gain this information.

The retirement age is up from 57 in 1991. The target age for retirement has increased by six years from 60 in 1995 to 66 in 2022. This trend may also be indicative of the changing age for which older people can access Social Security benefits. Currently, all people born past 1960 are not eligible for full Social Security benefits until they are 67. 

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