When is the best time to retire? It depends on who is answering the question, but that answer gives food for thought for senior housing developers and providers creating and renovating spaces for older adults.

In recently published results of a survey of Americans, the answer, on average, was 61.8 years — more than five years before a current 61.8-year-old would be able to collect full Social Security and more than three years before that person would be eligible for health insurance through the Medicare program.

The Pew Research Center conducted an online survey of 3,600 US adults in April 2024, then analyzed the results and published them a month ago.

Generally, Pew said, when asked the ideal age to retire, survey-takers aged fewer than 30 years thought it was best to retire earlier in life (on average, just before 60) compared with people aged 65 or more years (who said the ideal age is 65). Also, Americans in upper-income households tended to say it is best to retire at a younger age (61.2) versus adults in lower-income households (62.6).

The survey, however, also sought responses about certain age ranges for retirement. In the most popular answer among the age ranges provided, 34% said there is no best age to retire.

The second-largest percentage of participants, however, 26%, said that the ideal age to retire was 65 to 69 (19% said 60 to 64, 7% said 55 to 59, 4% said 50 to 54, and 1% said before 50).

The survey didn’t define retirement and didn’t ask respondents to do so either. The question asked was: “In your opinion, what is the best age to … retire.” (The survey focused on “family and financial milestones,” and participants also were asked for their thoughts on the best ages to get married, have a first child and buy a home.)

But Pew noted that “[o]ver the years, more Americans have been working page age 65, and 19% of Americans ages 65 and older were employed in 2023.”

If you’re curious what residents of other countries think is the ideal retirement age, Pew also surveyed people from 18 other middle-income countries and found that the answer ranged from 52.1 years in Colombia to 62.7 years in Nigeria. The 18-country average was 57.9 years.

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