Working longer isn’t a foolproof retirement plan — 46% of 2025 retirees left earlier than planned, survey finds
A recent survey indicates that many individuals retire earlier than they initially planned, with 46% of those expected to retire in 2025 doing so ahead of schedule. This trend has been consistent, with data showing that 40% to 50% of retirees have reported retiring earlier than anticipated since the late 1990s. The gap between retirement expectations and reality has been highlighted by various polls, including a Gallup survey.
- ▪46% of expected 2025 retirees left the workforce earlier than planned.
- ▪Since the late 1990s, 40% to 50% of retirees have reported retiring earlier than anticipated.
- ▪In 2022, the average expected retirement age was 66, while the actual retirement age was 61.
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Delaying retirement can have a range of positive financial impacts: such people don't have to live off their savings, since they get a regular paycheck. They have more time to save and for their assets to grow, hopefully. They can likely delay claiming Social Security benefits, guaranteeing a higher monthly payout for the rest of their lives.But retiring early can have the opposite effect, especially when it's unexpected.And people "consistently" retire earlier than planned, Copeland said. Roughly 40% to 50% of people who retired in any given year since the late 1990s said they retired earlier than anticipated, according to EBRI data. A Gallup poll similarly found a regular gap between retirement expectations and reality.
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