From Nasdaq, Inc.:

1. Americans believe they can retire at the age of 64, but there are pros and cons of retiring at this specific age. Retiring at 64 allows early access to Social Security benefits, though it may result in decreased benefits. It also allows penalty-free access to retirement accounts. Early retirement may provide the opportunity for travel. However, healthcare costs, decreased income, and feelings of restlessness are potential downsides to retiring early.

2. While many people plan to retire at age 64, this decision comes with many trade-offs. It’s important to evaluate the benefits and drawbacks before deciding on a specific retirement age.

3. If considering retirement, it’s essential to weigh the pros and cons of each potential retirement age. The decision to retire is unique to each individual’s circumstances and preferences. By creating a pros and cons list for each potential retirement age, it’s possible to make an informed decision that meets personal preferences and financial needs.



Read more: This Is the Average Age Americans Expect to Retire At, Data Shows. But Is It the Right Age for You?