7 Reasons It’s Hard To Retire at 65

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18 September 2022

By : Quick Insurance Guru

65 has long been the magic age for retirement. 

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However, a Gallup Poll found that for the majority of American citizens who are not yet retired, the expected age of retirement is diversifying. 

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25% anticipate retiring at age 65, while 39 percent believe they'll work past the supposedly magic retirement age. 

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1. You Haven't Saved Enough

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Many people believe that if they make contributions to an IRA or 401(k), they should be able to retire comfortably. 

2. You Haven't Saved Anything

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The only good thing about not having anything saved for retirement is that you're not alone.

3. 65 Is No Longer

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As a result of our longer lifespans and longer retirements, more people are eligible to receive Social Security benefits. 

4. Don't Want To Leave Money on the Table

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You can start collecting Social Security at age 62, but you'll get a smaller check each month.

5. Didn't Start Saving Early Enough

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When you get your first job, retirement seems an awfully long time away. 

6. You Did Your Traveling Before Retirement

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Many people look forward to taking trips after retirement, learning to play golf, or seeing their grandchildren. 

7. You Claimed Social Security Early

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It is possible to apply for Social Security retirement benefits as early as age 62, and many people do so. 

THANKS FOR READING!

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7 Reasons It’s Hard To Retire at 65