Obellisk posted...
Are people actually retiring at 65 anymore though? I mean other than State / Municipal / Military?
While the average retirement age has risen in the past few decades, I'm pretty sure the most
common
retirement age is still 62, which is the youngest that someone can start claiming social security (at a reduced monthly amount, obviously). Most people barely tolerate their jobs and will take the first reasonable opportunity to exit the rat race, even if it means reduced social security and permanently making do with less.
Keep in mind that seniors can only get Medicare at 65, so all those people retiring at 62 are doing so knowing that they'll need to spend three years figuring health insurance out on their own. And they still do it because they just wanna exit the workforce.