What is the full retirement age?

The full retirement age used to be 65 for those born in 1937 or earlier. Those born between 1943 and 1954 have a full retirement age of 66. The full retirement age further increases in two-month increments each year to 66 and 10 months for those born in 1959, up from 66 and eight months for those with a birth year of 1958.

What is the average retirement length in the United States?

The expected retirement length in the U.S. significantly rose between 1970 and 2020 from 12.8 to 18.6 years for men and from 16.6 to 21.3 years for women. Out of 42 countries with retirement length data, the U.S. ranks 28th for men and 37th for women. The average age of retirement in the U.S. is 61, according to Gallup.

What is full retirement age (Fra)?

Full retirement age (FRA) is the age at which you can receive full retirement benefits from Social Security. It's also known as normal retirement age. Full retirement age varies depending on the year you were born. FRA is 66 years and two months for people born in 1955, and it gradually rises to 67 for those born in 1960 or later.

How old do you have to be to retire?

The average retirement age in the United States is 61, according to a 2022 Gallup survey. In 1991, the average retirement age in the U.S. was 57; in 2002, it was 59.