Why Do People Retire Earlier Than Planned?

Most pre-retirees have received the standard advice from experts that retiring later means more money in the long run, but sometimes unexpected situations arise and people are forced to retire earlier than they had planned.

A study from the Center for Retirement Research at Boston College finds the main reason people retire earlier than expected is health. According to their findings, people in bad health overestimate how long they can work and/or their health worsens forcing them to retire early. Another big change that can cause early retirement is job loss.