Do Americans really work themselves to death, as the media so often portrays? Likewise, do Europeans really avoid work like the plague?

Of course not — but that doesn’t mean the retirement looks identical in countries like the US and France. While the average retirement age differs, so too do the benefit systems in each country.

Consider the following facts as you compare retirement in the US to France, before booking a one-way ticket to the Continent.

Also check out these reasons for using a financial advisor when planning your retirement.

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Average Retirement Age in the US

The average retirement age in the US is 65 for men, and 62 for women. That marks a sharp rise from the 1990s, when Americans retired at age 60 on average.

Why are Americans working later into their lives? It depends on who you ask.

Some feel they don’t have a choice, having failed to save enough in their younger adulthood. With a savings rate hovering at a paltry 3.4% according to the Bureau of Economic Analysis, American workers truly aren’t saving enough for retirement.

Retirees may also be onto something when they say, “Social Security isn’t what it used to be.” The Senior Citizens League reports that the buying power of Social Security benefits has declined 36% since 2000, and 20% since 2010.

On the brighter side, many workers choose to continue working in some capacity to stay engaged and fulfilled. They may work a gig part-time, or do low-stress work they enjoy.

Average Retirement Age in France

Across the pond, the French do in fact retire younger. The Connexion France reports that the average French man retires at 62.

The average French woman actually works longer than the average American, retiring at 62 and six months.

Of course, the French retirement pension system pays differently from our Social Security system in the US.

Government Retirement Benefits in France vs. the US

In the US, the average retiree receives a monthly Social Security benefit of $1,783 as of July 2024.

French retirees receive a lower average monthly pension amount, at €1,457, per Euro News. Today’s exchange rate is $1,630.

However, the comparison gets murkier when you account for the cost of living. According to Numbeo, the cost of living in France is 4.5% lower than in the United States, excluding housing. That discrepancy jumps to 23.8% when you include average rent.

If you subtract 23.8% from the average Social Security benefit for a true comparison of buying power, American retirees collect $1,359 per month to French retirees’ $1,630.

Of course, some European countries get trounced by both nations’ retirement benefits. The average retiree in Iceland rakes in government pensions of €2,762 ($3,090) each month, per Euro News. But then again, they have to eat Icelandic food, which both the French and Americans have good reason to give the side-eye.

Life Expectancy in the US vs. France

It’s worth noting that older adults in France live longer to actually enjoy their retirement.

According to the World Health Organization, the average French citizen has a life expectancy of 81.9 years. Here in the States, the average life expectancy clocks in at just 76.4 years — a full 5.5 years shorter.

That means the average French man enjoys nearly 20 years of retirement, compared to the average American man’s 11. Yikes.

After all, the French might be onto something with all that cheese and wine. Or perhaps the lower-stress lifestyle really adds years to their life expectancy.

Final Thoughts

As nice as it sounds to retire earlier and live longer in France, some economists argue the country’s aging population and generous pension system is a ticking time bomb. The US too will need to reform its Social Security system, or face insolvency by 2033. As developed nations continue seeing aging populations from low birth rates, many will need to find ways to encourage their citizens to save more for retirement, work longer, or both.

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