Skip to Content
AP

Time to retire

By
Published 5:45 pm

By Metro Creative

A high cost of living and advancements in medicine that have contributed to longer life expectancies would seemingly compel individuals to work longer, but data indicates the average professional is retiring shortly after turning 60.

Data from the 2024 MassMutual Retirement Happiness Study indicates that the average retirement age among American retirees is 62. That’s in spite of the fact that pre-retirees and retirees who participated in the study indicated that 63 is the ideal retirement age.

Canadians are staying in the workforce a good deal longer, as Statistics Canada reports the average retirement age across Canada in 2023 was 65.1. That disparity could be due to the Canada Pension Plan (CPP), which replaces part of retirees’ income with a monthly, taxable benefit. The Government of Canada reports the standard age to start the CPP is 65.

— Metro Creative

Article Topic Follows: AP

Jump to comments ↓

Related Articles

BE PART OF THE CONVERSATION

News-Press Now is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here.

If you would like to share a story idea, please submit it here.

Skip to content