One of the most important decisions in retirement planning is when you are going to actually retire. While it is easy to imagine working until 65 or even 70 while early in your career, the reality is that few end up working that long. Despite a median expectation of age 65, the median retirement age is 62
While we all hope for the best, it is important to remember that we are not always in control of when we get to retire. It is common to start drawing income earlier than anticipated and having to make your portfolio last longer in the end. Below are a few statistics to consider when choosing an appropriate target age for retirement.