Why More People Are Retiring Early Today Than Ever Before

More Americans than ever before are retiring early due to seven key factors reshaping our approach to work and retirement planning.

• COVID-19 accelerated early retirements with 2.6 million more people retiring during the pandemic than expected
• Average retirement age dropped from 64 in 2019 to 62 in 2022, one of the sharpest declines in decades
• The FIRE movement (Financial Independence, Retire Early) has grown by 300% in searches between 2018-2023
• Strong market performance created record numbers of 401(k) millionaires
• Remote work flexibility enables 40% of workers to retire 2-5 years earlier than previously planned
• 68% of Americans have reprioritized work-life balance with 47% willing to accept lower income for more freedom
• Health concerns prompted 25% of early retirees to leave the workforce sooner than expected

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If you want help with your early retirement, reach out to Root Financial Partners or consider the Early Retirement Academy to access planning tools and resources.

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Ari Taublieb, CFP ®, MBA is the Chief Growth Officer of Root Financial Partners and a Fiduciary Financial Planner specializing in helping clients retire early with confidence.