Did You Know That The Average Age Of Retirement is 62?
Surprise, Surprise, Surprise
Remember back in the day when we thought that 62 was old? Now that I’m about to turn 63, I find that attitude laughable.
I was surprised to find that the average age for retiring in the U.S. is 62. It seems pretty young to me even though I am already retired. I was 54 when I retired from teaching. As a teacher in Georgia, you can retire with a full pension after 30 years or at 65.
I realize that I am lucky. Pensions are quickly becoming a thing of the past. If you don’t work for the government, most companies have chosen to offer 401k’s. My husband worked various jobs over the years, and his 401k balance is pretty low. Saving is not his forte. I can’t believe that he is the only one who is challenged in this area.
Because of our debt and his lack of savings, he planned to work until he was 70 and get a higher payout on Social Security. Unfortunately, his plans didn’t work out. He was let go from his job at 66, and it was a blatant case of age discrimination.
We discovered very quickly that lawyers aren’t interested in taking on such cases, and those who insist on pursuing the issue lose any payout to lawyers and court fees.
