Common Retirement Ages in Florida – And Why They Matter for Alimony

Thanks to the new divorce bill in Florida, retirement age now has a very profound effect on alimony. This means that spouses should consider their specific retirement age in order to approach alimony in the most efficient manner possible – especially if they face the prospect of paying alimony to their exes. You might assume that retirement age remains the same across all Florida residents, but this just isn’t true. Some professions are associated with much older or younger retirement ages.

Careers Associated with Early Retirement:

• Pilots 

Only 25% of pilots are still working by the time they reach the age of 65. This means that the vast majority retire before this date. In addition, data shows that the average pilot has a high level of savings in their 401(k) by the time they reach the age of 62.

• Doctors 

Certain doctors – especially physicians and dentists – tend to retire early. A high number of these doctors retire before they reach the age of 65, and most have enough retirement savings by the age of 62 to stop working.

• Electricians 

Less than 20% of electricians say that they’ll keep working past the age of 65. This in-demand trade is associated with high employee 401(k) contributions, allowing electricians to save up enough money for retirement at a fast rate.

• Firefighters 

The average retirement age for firefighters in the United States is just 52. Only about half of firefighters believe that they’ll continue working past the age of 65. In addition, they enjoy high 401(k) savings contributions from their employers.

• Kindergarten Teachers 

Although you might not associate kindergarten teachers with early retirement dates, the statistics don’t lie. Less than 17% of these workers plan to continue with their careers past the age of 65.

Careers Associated with Late Retirement 

According to Time magazine, workers who tend to retire late include:

• Tax preparers
• Clergy
• Agricultural managers
• Bus and ambulance drivers
• Real estate brokers and agents

Why Does it Matter? 

Your retirement age matters in Florida because it may allow you to stop paying alimony earlier than you assumed. If your career is associated with low average retirement age, you may have the opportunity to end alimony at an equally early date.

Basic Retirement Data in the United States

 Many US residents retire between the ages of 65 and 67, as most Americans become eligible for certain Social Security benefits during this period. However, some people delay their retirement in order to gain access to more benefits. If you asked the average person when most people retired in the United States, they’d probably say 65. However, the real average age of retirement in the United States is 61.

Where Can I Find a Qualified Divorce Attorney in Florida? 

If you’ve been searching for a qualified, experienced Orlando divorce attorney, look no further than Steve Marsee, P.A. Over the years, we have helped numerous divorcing spouses strive for the best possible outcomes. To learn more about how your specific retirement age may affect your divorce, book a consultation today.

Sources: 

fool.com/research/average-retirement-age/

time.com/4726657/retirement-age-jobs/