Social security

Americans' Ideal Retirement Age -- and Why It's Not Realistic

Many of us dream about retirement, and that includes younger workers who have yet to really pay their dues. Now, there's nothing wrong with looking forward to retirement and even planning an early exit from the workforce. But Americans on a whole may be a bit misguided when it comes to this particular milestone. In a new Bankrate survey, U.S. adults across the board said that the ideal age to retire is 61. But whether that's realistic is a different story.

Can you live without Social Security in retirement?

Though the typical American can't live on Social Security alone in retirement, those benefits currently help millions of seniors keep up with their bills. Eligibility for benefits, however, does not begin until age 62, so the fact that those surveyed think 61 is the perfect age to retire means they either don't know that that's too soon to collect Social Security, or they assume they can get by without those benefits.