A majority of Americans are retiring earlier than expected, according to a study by the Transamerica Center for Retirement Studies. The research shows that 58% of workers retire prematurely, with health problems, job disruptions, and family obligations driving the trend. The findings underscore the difficulties of achieving financial security in retirement when circumstances force an early exit from the workforce.
The median retirement age in the U.S. is 62, falling short of the traditional benchmark of 65. Catherine Collinson, president of the Transamerica Institute, emphasizes the profound impact of losing additional working years. "Five or ten more years in the workforce can make a critical difference in securing retirement stability," she said.
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