Daily Money - That’s a Wrap for Aerosmith

In 1970, a group of Boston musicians formed a band that would become synonymous with rock ‘n’ roll. Over the ensuing 54 years, Aerosmith created 15 studio albums, 16 compilation albums and several live albums, all while embarking on a remarkable 33 tours. That came to an end on Friday, when the band announced it was concluding its farewell tour due to lead singer Steven Tyler’s ongoing vocal cord injury.

The news got me thinking about the iconic frontman’s age, and in turn, the average age at which Americans retire. In March, Tyler turned 76 years old. Meanwhile, the average age of retirement in the U.S. is 65 for men and 63 for women, according to financial services company Empower. So perhaps it was everyone else that should’ve been showing Tyler how to “Walk This Way.”

But with life expectancies on the rise and Social Security not paying maximum benefits until age 70, should Americans consider delaying retirement? The answer is personal — and based on factors including financial and physical well-being as well as the degree of passion one has for their work.

In short, there is no “right” age for retirement. Whether it’s vocational or philanthropic, continuing to do something you love is a net positive for your mental and emotional health as you age.

For the record:

• Jane Fonda is still acting at 86.
• Willie Nelson is still touring at 91.
• And Mel Brooks is still writing comedy at 98.

About 7.4 million people will receive two Social Security payments in August. The scheduling change affects Supplemental Security Income, or SSI, which provides financial help to low- and no-income Americans who don't have many resources and are blind, disabled, or age 65 and up.

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