The most popular retirement plan in America is to keep working. Almost half the time, that plan does not survive contact with reality.

The Gap Between Plans And Reality

Researchers at EBRI polled 2,544 Americans age 25 and up. The 2026 survey came out April 21.

The poll group included 1,007 workers, 1,045 retirees, and 492 caregivers.

The headline number: 46% of those who retired in 2025 stopped earlier than planned.

That gap is not new. EBRI says 40% to 50% of retirees in any given year going back to the late 1990s have said the same thing.

A 2022 Gallup poll showed the gap with two numbers. The average person planned to retire at 66. The average actual retirement age came in at 61.

The five-year gap is more than a feeling. It is a real hole in plans.

Why So Many People Retire Early

76% of last year's early retirements were caused by things outside the worker's control. That includes health issues, layoffs, and caring for a loved one.

A 2018 Urban Institute paper found 56% of full-time workers in their early 50s get pushed out of their jobs. The push tends to come from layoffs or closures before they are ready to retire.

Craig Copeland, EBRI's wealth research head, said losing a job late in your career changes the math fast.

People who thought they had 5 or 10 more working years can find themselves needing income now. Going back to work is often hard after a health event or at an older age.

The result: many older workers move from full-time pay to fixed income with little notice. That can break a plan that was built on a steady paycheck.

Three Steps Financial Planners Recommend

Kamila Elliott is a CFP and CEO of Collective Wealth Partners. She lays out three moves for those nearing the end of their work lives.

• Pay down debt. Credit cards, car loans, lines of credit, and the mortgage. Less debt now means more cash flow later.
• Max out catch-up payments. In 2026, savers age 50 and up can put an extra $8,000 into a 401(k) and an extra $1,100 into an IRA. Savers age 60 to 63 get a bigger lift, with an extra $11,250 in their 401(k).
• Lock in long-term care insurance. Buying it before you retire keeps a single health event from wiping out a plan.

Copeland adds another layer. He says to plan for two retirement numbers. One is for the timeline you want. The other is for the timeline that might actually show up.

What To Watch

If retirement comes early, claiming Social Security right away is the most costly move.

Elliott points to a "bridge strategy." That means drawing from retirement and other accounts to delay Social Security as long as you can.

Full retirement age is between 66 and 67, depending on your birth year. That is the point where you get 100% of what you earned.

The longer you wait past that, up to age 70, the bigger the monthly check for life.