18 Percent of Baby Boomers and Gen Xers Plan to Work Past Age 74: What is a Good Age to Retire?

Northwestern Mutual's 2019 Planning & Progress Study finds that 18 percent of both baby boomers and Generation Xers expect to work past age 74. USA Today provides a few reasons why staying in the work force can be good for people as they age. For example, the more money you accumulate in your nest egg, the more financial security you will buy yourself during your golden years. Also, holding off on receiving Social Security benefits until age 70 will allow recipients to accrue delayed retirement credits that increase their benefits by 8 percent a year. Finally, retirees are 40 percent more likely than workers to be diagnosed with depression, and much of that boils down to the boredom factor. Extending your working years, especially if you enjoy your job and it serves as a social outlet for you, may be the best choice.