Early retirement could hurt your finances - KWWL - Eastern Iowa Breaking News, Weather, Closings

Early retirement could hurt your finances

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(NBC) -

A new study finds many Americans are retiring too early -- and that's hurting their financial health. 

According to new research from Boston College's Center for Retirement Research, the average retirement age seems to have stabilized at 62 for women and 64 for men. 

The study also found that retiring too early can be very harmful to one's financial health, and that older workers would be better off to keep working a bit longer. 

An individual who delays claiming social security from age 62 to 70 could receive a monthly benefit that's 76 percent higher. 

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