Society of Actuaries Finds 59% Retire Early as Health Problems Lead at 31%

2 articles · Updated · USA TODAY · May 25

59% of retirees left work earlier than planned in the Society of Actuaries Research Institute’s latest survey, while only 6% retired later than expected.
31% cited health changes as the top reason for early retirement, followed by job dissatisfaction at 25%, job loss at 20%, family changes at 19% and hitting savings goals early at 16%.
Income sharply shaped whether early retirement was voluntary: among people earning under $35,000, health setbacks and job loss led, while among those above $75,000, job dissatisfaction and reaching savings targets were the main drivers.
The 2024 survey covered 1,007 pre-retirees and 1,005 retirees, and its findings align with EBRI data showing workers typically expect to retire at 65 but often leave around 62.
Despite that gap, most retirees reported coping financially: only 19% in the actuaries’ survey said they were worse off than expected.

Many Americans are forced to retire early. What is the one financial crisis most are unprepared for before they turn 65?

With pensions vanishing and Social Security's future uncertain, is the dream of a secure retirement now out of reach for most Americans?