47% – Percentage of retirees who retired earlier than planned, with nearly one-third citing an unexpected hardship, such as a health problem or disability.
Source: Employee Benefit Research Institute, 2022
Workers typically plan to retire much later than the actual age reported by retirees. In the 2022 Retirement Confidence Survey, 65% of workers said they expect to retire at age 65 or older (or never retire), whereas 69% of retirees left the workforce before reaching age 65. When choosing a retirement age, it might be wise to consider a contingency plan.
Source: Employee Benefit Research Institute, 2022
