Retiring at 62 is the dream of many Americans, marking the earliest chance to start collecting Social Security benefits. While there’s a three-year gap before Medicare eligibility begins, the trade-off is often worth it: many find themselves healthy enough to truly enjoy their newfound freedom and check off those long-awaited bucket list items.
The average retirement age in America is 62, according to a MassMutual survey. Whether that transition is a choice or a necessity — driven by layoffs, health issues, or caregiving responsibilities — one reality remains: retiring at 62 requires a substantial nest egg to go the distance.
How much? $1.26 million, according to a 2025 study by Northwestern Mutual. That could be less or more depending on your current lifestyle and how you plan to live once you retire.
But retiring at 62 isn't only about dollars and cents. You also have to be emotionally ready to exit the workforce. You'll have a lot of free time on your hands, and without an idea of what you want to do with that newfound freedom, retirement can be downright depressing.
Still feeling undeterred about retiring at 62? Take our quiz and see if you are ready to join the majority of Americans who traded the commute for the golf clubs once they reached this age.
