For most Americans retiring is the ultimate goal. It's the reason you work so hard and for so long, so you can kick back and relax when you're older. One thing is clear; the longer you work, the more benefits you'll get once retired. But many Americans are being forced to retire early for reasons that they can't control. 76% of early retirements happened due to factors out of individual control.
One large problem with the "working longer means better retirement" strategy is that there's no guarantee that you'll even be able to work longer. Health problems build, layoffs happen, and overall unpredictable events occur more than anticipated. Even with the health care system being stronger than ever, costs for that take away from building for retirement.
One of the most important things people can do is having a backup plan and getting debt out of the way early. The last thing anyone wants is to retire and still have to make payments on outstanding debt. Long-term insurance also provides a nice safety net in the event of emergencies, which inevitably happen.
Waiting until age 70 is the best case scenario. At this age social security benefits are maximized. Waiting until 66-67 is a minimum to obtain full retirement benefits. With people leaving the workforce earlier than expected, the labor participation rate may seem artificially lower than expected. It's important that Americans are trying to stay in the workforce as long as possible for their own benefit and the benefit of the economy as a whole.
Article: https://www.cnbc.com/2026/04/28/early-retirement.html
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