woman working in office

I totally understand that many of you near retirement are considering working longer to shore up your retirement plan. Working longer can make great sense. You can keep your retirement savings growing longer, tap into less earlier, and perhaps even continue to save more.

But it is nonetheless a bit of a dangerous strategy. The 2026 edition of the Retirement Confidence Survey from EBRI says that nearly half of people who retired said it came earlier than they had planned. The median expected retirement age for workers is 65, but most retirees actually retired before that, at a median retirement age of 62. Typically, earlier retirement isn’t a choice, but the reality of a health problem, a layoff, or perhaps a loved one who needs care.

It is great to aim to work longer, but I want you to consider how you can get your finances in great shape so that if you do need or want to retire earlier, you will be secure.

Get the mortgage paid off before you retire.

This is one of the most powerful things you can do to reduce what retirement actually costs. A paid-off home means your monthly income requirements drop dramatically. That gives your savings more room to breathe and reduces the pressure on Social Security to cover everything.

Save more aggressively while you still can.

If you are 50 or older, the IRS allows catch-up contributions that most people underutilize. In 2026, you can contribute up to $32,500 to a 401(k) — and if you are between 60 and 63, a special “super catch-up” provision allows up to $35,750. You can also contribute up to $8,600 to an IRA.

Planning for retirement as if you will work until 65 or beyond is not wrong — but it cannot be your only plan.

Share with a friend

Share this Article

Get Suze’s financial advice delivered straight to your inbox

    Top Resources for You

    Related Articles

    Categories: IRAs/401(k)s, Retirement, Saving