Should You Plan to Retire at 62?
Many Americans aim to retire at the age of 62 because it's the earliest age to begin collecting Social Security. But actually, in a recent survey of investors across 24 countries, Natixis Investment Managers found that workers on a whole think they'll retire at 62. The question is: Is that a good idea?
In some countries, it may be possible to retire at age 62. But in the U.S., it's a tougher prospect.
Many people struggle to save independently for retirement, and gone are the days when the majority of workers were entitled to a generous pension once their careers wrapped up. That means that a lot of seniors wind up being heavily dependent on Social Security. And those who claim their benefits at 62 inevitably wind up reducing that income stream substantially.
Source Fool.com
