Working longer is among the best ways to ensure you don't outlive your retirement savings. The problem is, you can’t count on it as a strategy.
When it comes to retirement age, there is a big gap in expectations versus reality. Americans generally retire earlier than planned — often due to factors beyond their control, such as poor health or job loss, research shows.
In 2022, the average expected retirement age was 66, according to a Gallup poll. But the actual retirement age was 62, on average. While the averages have varied somewhat over the years, there has been a consistent gap of about five years between expected and actual retirement ages since 2002, Gallup said.
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