Average retirement age is creeping up... to 61

Yeah, I was surprised it was that low - but that's still up from 1991 when the average retirement age was just 57, according to a Gallup survey. Much of the increase has come since the recession (those still in the workforce expect to retire well past 61). By the way, the biggest concern among non-retirees is having enough money to live on. Matter of fact, there's so much fear about running out of savings that one study recently said that many Americans in their 70s and 80s tend to under-spend. From press release:

Currently, 37% of nonretired Americans say they expect to retire after age 65, 26% at age 65, and 26% before age 65. The most notable change over time is the increase in those expecting to work past age 65 -- the 37% this year is up from 22% a decade ago and 14% in 1995. Meanwhile, the percentage of nonretirees who say they expect to retire before age 65 has declined to 26% from 49% in 1995.The percentage who say they will retire at exactly 65 has held fairly constant over the decades.