For years, working until 65 has been treated as the default — but that old benchmark may no longer make sense. With stress levels high, health declining earlier and the cost of living forcing people to rethink what they want from life, a growing number of Americans are reconsidering how long they want to stay on the job.
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According to a 2024 YouGov survey, nearly six in 10 Americans (59%) say they’d like to retire early — well before 65 (1). Yet 41% are still planning to keep working until the traditional age or later, often out of financial fear.
If you’re on the fence, a few surprising statistics might push you to think differently about when your golden years should begin.
You may only have 64 “healthy” years to enjoy
The World Health Organization reports that while the average life expectancy in the U.S. is 76.4 years, the healthy life expectancy — the years you’re likely to live without major health problems — is just 63.9 years (2).
That means by the time you hit 65, the average American is already past the point when their body starts to experience age-related decline. Chronic pain, mobility issues, and fatigue can limit your ability to travel, volunteer, or even just enjoy time with friends and family.
If you wait until the “right” retirement age, you might end up spending those long-awaited years dealing with medical issues rather than making memories. That’s why some experts argue that if you can afford it, it’s better to retire while you’re still healthy enough to enjoy it.
Most people spend 90,000 hours at work
Over a lifetime, the average American clocks roughly 90,000 hours at work, according to data scientist Andrew Naber (3). That’s the equivalent of more than a decade of waking hours spent on the clock.
Even cutting just a few years off your career could reclaim thousands of hours — time that could be spent traveling, learning new skills, or simply relaxing. Retiring five years earlier could give you back over 9,000 hours — or the equivalent of taking three around-the-world cruises.
Time, after all, is the one thing no paycheck can buy back.
Read more: I’m almost 50 and have nothing saved for retirement — what now? Don’t panic. These 6 easy steps can help you turn things around
Early retirement can reduce depression
A study in Global Health Research and Policy found that those who retire under positive circumstances (meaning they chose to do so) experience lower rates of depression (4). In contrast, people forced to retire due to layoffs, poor health, or other negative reasons report much worse outcomes.
When you plan your exit rather than having it planned for you, you preserve a sense of control — and that sense of agency has been shown to improve mental well-being and even physical health.
In other words, retiring on your own terms can be good for more than your sanity — it can be good for your overall health.
The “waiting too long” problem is getting worse
A growing number of Americans aren’t retiring by choice — they’re being forced out. Research from the Urban Institute shows that over half of older workers leave the workforce earlier than they expected, often because of health problems or job loss.
That means your “someday” retirement plan could arrive sooner than you think, and not on your terms. Building an early-exit strategy — even if you don’t use it right away — can act as insurance against an unexpected career derailment.
If you’re already feeling burned out, it might be better to prepare now than scramble later.
What about the money?
While 59% of Americans say they want to retire early, just 40% believe they’ll have enough savings to do so. It’s true that financial fear holds many people back — but data suggests it may be overstated.
According to the Employee Benefit Research Institute, nearly 60% of Americans aged 35 to 64 are not projected to run out of money in retirement. And there are practical ways to strengthen your finances before you take the leap:
- Downsize your housing costs or relocate to a more affordable region.
- Delay Social Security benefits to maximize monthly payouts.
- Work part time or freelance during early retirement to ease the transition.
A financial advisor can help you model different retirement timelines and show how even a few small changes, like cutting high-interest debt or lowering expenses, can accelerate your exit date.
You may not be able to retire tomorrow, but planning for an earlier exit could give you the freedom and the health to truly enjoy your retirement years. The sooner you set a target and start preparing, the better your chances of spending your best days on your own terms, not your employer’s.
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Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.*
YouGov (1); World Health Organization (2); Gettysburg College (3); GHRP (4); EBRI (5)
This article originally appeared on Moneywise.com under the title: Planning to retire at 65? These surprising stats show why that may not make sense — and how retiring sooner can pay off
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.