From 1980 to 2000, the rate of retirement held fairly steady. During that time period, about 5,000 Americans retired each day. However, in the past 18 years, that rate has seen a dramatic increase, doubling in size. Now, 10,000 U.S. residents retire daily. It looks like this increase isn’t stopping soon. In fact, if trends hold, 12,000 people will decide to retire per day before 2030. Because the retirement rate in America is increasing, we can expect changes to the system—and even to each individual person reaching his or her golden years.

Social Security

For years, you’ve been paying into the system. Soon, it will be your time to benefit from Social Security—if you aren’t already. Still, because the amount of people needing Social Security is increasing—and the number of people paying for it is decreasing—this means that you may not receive as much as previous generations. Because of this phenomenon, you’ll have to adjust just how you’ll approach your retirement.

Planning for Retirement

You’d be surprised how few Americans are planning for their retirements. If you’re among the 21 percent of United States residences without money stocked away for retirement, you could find yourself in danger of a delayed—or non-existent—retirement.

So, what is there to do? Besides spending less, you should also save more. If you haven’t made a budget for your retirement years, do that now. Not only should you think about food, lodging, and bills, but you should also have a fair bit of money—usually around $140,000 a person, which is the average amount of money that retirees will pay towards medical expenses—set aside for health costs. Remember: the more you can save, the more you should save. Otherwise, you could find yourself in a financial crisis.

Can You Still Retire?

The answer is yes. Though the retirement rate in America is increasing, you still can enjoy your golden years free from financial worry. However, there may be a caveat: your retirement might look less traditional. You may have to retire later, delay your Social Security, save more, or even do some supplementary work on the side. However, the better you prepare, save, and invest now, the more successful you will be when it comes time to leave the workforce.


While the retirement rate in America is increasing, creating more and more challenges for retirees, that doesn’t spell doom for the reinvention period of your life. As long as you consistently save and plan, you can still work towards a bright and exciting post-workforce life. Vigilance and foresight are key, so make sure that you’re not just earning money for the moment—you have to save it for the future, too.

As you’re saving for your retirement, investments can help secure you more financial stability. At Ty J. Young Inc., we’ll help you grow your future retirement fund—money-protected. Call us at 877-912-1919 to begin. To grow your financial knowledge, you can also read our helpful blog.
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