Many Americans consider 65 the average retirement age. This is when you become eligible for Medicare. It was also once the full retirement age for Social Security, though that benchmark is now between the ages of 66 and 67 for most people. A 2019 study by the Society of Actuaries found a difference between when people plan to retire and when they actually do. According to the study, pre-retirees plan to leave the workforce at a median age of 65, while actual retirees reported leaving at a median age of 60.