As we said earlier, research by the Federal Reserve found that the average balance of retirement accounts in the U.S. UU. By the late 50s or early 60s, you should have a better idea of what retirement could be like for you and what being “retired” really means to you. Do you want to keep working for as long as you can? Do you want to slow down? What are your Social Security benefits and when is the best age to start taking them? Are you eligible for spousal or survivor benefits?.