Why do Americans Find Difficulty to Retire at 65 Years Old?

Sunday, April 28, 2019
M any Americans can’t afford to retire early,
credit to GoBankingRates

Human Lifespans increase worldwide, even in the countries we never heard before, from developing countries to industry countries.

Four Asian countries, they are Japan, Singapore, Macao and Hong Kong included top 10 countries with the highest life expectancy in the world recently.

The retirement age followed the life expectancy. As an example that Japan retirement age increased from 55 years to 68 age years old.

However, government allows Japanese to claim social security benefit as early as 60 years old age.

How about in America? If you read newspapers or magazines, young Americans “dream” to retire before 40.

In fact, around 64% women and 57% men took social security benefit before 62 years old. Since 2014 (5 years ago), the number is declining.

The declining to take early retirement could be due to American lifespan, increasing from 78 years to 84 years for men, and from 80 to 87 to women.

However, the main reason is FINANCIAL. More than 50% of American will brook when they retire, especially at early age or before 65.

Other financial matters will be faced by people to retire early, some of them are following:
- Not saving anything or nor saving enough (30% have less than US$ 5 thousand when reach retirement age)
- Have mortgage to pay
- Have to pay student loan

How about in your country? How old is retirement age?

19 comments:

  1. It is scary. I don't expect to ever retire. Luckily I am self employed and enjoy my work. The costs of health care in the US for retirees is horrible. What we have is Medicare but it is not actually free and retirees have to also pay for supplement insurance as well since that coverage is not enough. On top of that, taxes have to be paid on social security income!

    ReplyDelete
    Replies
    1. yes, indeed...

      Thank you to visit my article:
      Why do Americans Find Difficulty to Retire at 65 Years Old?
      @
      Many Americans can’t afford to retire early,
      credit to GoBankingRates

      Delete
    2. Why, do, Americans, Find, Difficulty, to, Retire, at, 65 Years Old?
      @
      However, the main reason is FINANCIAL. More than 50% of American will brook when they retire, especially at early age or before 65.

      Delete
  2. The age in my country is also 65 years. It's a complicated issue because now people take on more adult roles at a certain age.

    ReplyDelete
    Replies
    1. Thank you to visit my article:
      Why, do Americans Find Difficulty to Retire at 65 Years Old?
      @
      Human Lifespans increase worldwide, even in the countries we never heard before, from developing countries to industry countries.

      Delete
    2. Why, do, Americans, Find, Difficulty, to, Retire, at, 65, Years Old?
      @
      Other financial matters will be faced by people to retire early, some of them are following:
      - Not saving anything or nor saving enough (30% have less than US$ 5 thousand when reach retirement age)
      - Have mortgage to pay
      - Have to pay student loan

      Delete
  3. Singaporeans too, find it hard to retire bring one of the most expensive countries to live in.

    ReplyDelete
    Replies
    1. Thank you to visit my article:
      Why, do, Americans Find Difficulty to Retire at 65 Years Old?
      @
      Four Asian countries, they are Japan, Singapore, Macao and Hong Kong included top 10 countries with the highest life expectancy in the world recently.

      Delete
    2. Why, do, Americans, Find, Difficulty, to, Retire, at, 65, Years, Old?
      @
      How about in your country? How old is retirement age?

      Delete
  4. In Poland it is 60 for women and 65 for men☺

    ReplyDelete
    Replies
    1. Thank you to visit my article:
      Why, do, Americans, Find Difficulty to Retire at 65 Years Old?
      @
      The retirement age followed the life expectancy. As an example that Japan retirement age increased from 55 years to 68 age years old.

      Delete
  5. In Spain we must work until 67 and almost everybody want to retire earlier.

    ReplyDelete
    Replies
    1. Thank you to visit my article:
      Why, do, Americans, Find, Difficulty to Retire at 65 Years Old?
      @
      However, government allows Japanese to claim social security benefit as early as 60 years old age.

      Delete
  6. In Spain is between 65 and 67 years. I should work 36 years moreee😓😓😓

    ReplyDelete
    Replies
    1. Thank you to visit my article:
      Why, do, Americans, Find, Difficulty, to Retire at 65 Years Old?
      @
      How about in America? If you read newspapers or magazines, young Americans “dream” to retire before 40.

      Delete
  7. Topical issue! Elderly age is not a happy perspective at all. In our country the recent pension reform changed retirement age for women up to 60 years, and 65 correspondingly for men. People’s attitude varies with negative predominating. Personally I as well as my husband are already there:) But our son will have a longer working experience, as reverse process is most unlikely.
    Best wishes from Russia!

    ReplyDelete
    Replies
    1. I see....

      Thank you to visit my article:
      Why, do, Americans, Find, Difficulty, to, Retire at 65 Years Old?
      @
      In fact, around 64% women and 57% men took social security benefit before 62 years old. Since 2014 (5 years ago), the number is declining.

      Delete
  8. Replies
    1. Thank you to visit my article:
      Why, do, Americans, Find, Difficulty, to, Retire, at 65 Years Old?
      @
      The declining to take early retirement could be due to American lifespan, increasing from 78 years to 84 years for men, and from 80 to 87 to wome

      Delete