Retirement is being redefined by today's Americans.

Many Americans are moving away from the traditional age‑65 retirement model and choosing flexible approaches such as phased retirement, semi‑retirement, micro‑retirements, or continuing to work for fulfillment.

Retirement is moving away from a one‑size‑fits‑all milestone as more Americans choose flexible, individualized paths. Pensions are less common and the Social Security full retirement age has risen, which has reshaped when and how people leave the workforce. Historically, the Social Security Act of 1935 and Medicare in 1965 established age 65 as a benchmark for retirement eligibility. Today, many people combine work and leisure in new arrangements instead of leaving the workforce entirely. Key facts: - The Social Security Act of 1935 and Medicare in 1965 established age 65 as a benchmark for retirement eligibility. - Almost half of American workers (48%) anticipate a phased retirement, reducing hours or moving into part‑time, seasonal, or temporary roles. - More than half of baby boomers (54%) say they work in retirement to keep their minds active, and 47% report they continue working because they enjoy their work. - About 25% of workers across generations report that they want to work in some capacity to maintain relationships and connections. - The FIRE (Financial Independence, Retire Early) movement has grown among younger cohorts, while other younger workers prioritize present spending over aggressive long‑term saving. Summary: Retirement is increasingly a mix of work and nonwork phases that reflect personal goals rather than a single age benchmark. That shift changes how people plan for benefits, savings, and daily life in later years. Undetermined at this time.