Reply to Why do people think Retirement Age is 65?

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[quote=Anonymous][quote=Anonymous]I've always considered 59.5 to be the target retirement date because that is when I can withdraw from IRA/401k without penalty, but I see your point, especially for people who are relying on SS and Medicare.  Public policy is basically pushing for a 65-year-old retirement date, but incentivizing people to start SS withdrawals at 67 and not forcing RMDs until 75.  Probably because our SS system is underfunded, and raising taxes is not a popular solution.  [/quote]

Exactly this.  Most people will depend heavily on Social Security which will drive their retirement date.  Those of us in this forum are more likely to have been heavy savers and are not planning to depend on Social Security at all.  Sadly, we are also anxious savers so I am willing to bet that even people with many millions saved here won't retire until after 65.  My dad was in that bucket.  Millions saved and died still working for the Federal Government.

I learned from his experience and intend to retire at 59.5.  I encourage others to do the same if they want to.  Many people (especially in DC) have a lot of their identity tied up in their jobs and just can't make it work.[/quote]

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