The average retirement age in the United States has risen to 66 years old as of 2026. This marks a shift from 64 in 2022, reflecting evolving social and economic factors that influence when individuals choose to retire.
Americans are increasingly aware of this trend, with many now anticipating a retirement age of 66, up from an expectation of just under 64 in 2021. This is the highest anticipated retirement age since 2012.
Moreover, a growing number of Americans predict they will retire at the age of 67 or older.
While financial concerns about retirement persist, approximately 80% of current retirees report feeling financially secure, contrasting with the 53% of non-retirees who believe their savings will suffice for retirement.
Average Retirement Age FAQ
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What is the average monthly retirement income from Social Security?
The average monthly retirement income from Social Security is $1,800. As of January 2026, approximately 51 million Americans receive retirement benefits from Social Security.
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How much does the average retired person spend per month?
The average retired person spends around $4,500 a month. This is based on the average annual expenditure of individuals aged 65-74 in the United States, estimated at $54,000.
However, spending patterns can vary significantly, with those aged 55-64 typically spending more and those aged 75 and older spending less.
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How much does the average American have in savings when they retire?
The average American has $250,000 in savings upon retirement. This figure represents the average retirement savings for individuals aged 60-64, which aligns closely with the current average retirement age in the U.S.
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How much do I need to retire?
The average American requires an annual retirement income that is approximately 80% of their final pre-retirement salary. For example, if your annual salary is $70,000, aim for at least $56,000 per year in retirement income to maintain your lifestyle.
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When should I claim Social Security?
Claim your Social Security benefits when you are confident you’ll have a sustainable annual income. While you can start claiming at age 62, waiting until your “full retirement age” or even up to age 70 can maximize your benefits.
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How can I boost my retirement savings?
The best strategy to enhance your retirement savings is to begin saving as early as possible. For instance, someone who starts saving $150 per month at age 35 might accumulate around $200,000 by retirement, while a person who starts saving $100 a month at 25 could end up with over $300,000. Other effective strategies include contributing to a 401(k), minimizing unnecessary expenses, and setting clear savings goals.
References
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Gallup. “U.S. Retirees’ Experience Differs From Nonretirees’ Outlook.” Accessed on March 2, 2026.
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U.S. Bureau of Labor Statistics. “A closer look at spending patterns of older Americans.” Accessed on March 2, 2026.
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Zippia. “Retirement Statistics.” Accessed on March 2, 2026.
Author
Matthew Zane is the lead editor of Zippia's How To Get A Job Guides. He is a teacher, writer, and world-traveler that wants to help people at every stage of the career life cycle. He completed his masters in American Literature from Trinity College Dublin and BA in English from the University of Connecticut.
