Retirement surprises: What retirees wish they had known

Retirement isn't exactly as expected for many, with surprises including a younger-than-expected retirement age and higher health care costs, according to the Wells Fargo/Gallup Investor and Retirement Optimism Index.

Nearly one quarter of retired investors say they stopped working earlier than they'd have liked, which, according to Joe Ready, head of Wells Fargo Institutional Retirement and Trust, is a reason to consider different retirement scenarios in their planning.

"Life events happen, and people don't always get to choose when they retire -- which is why it's important to have a well thought-out plan that maps out different retirement age scenarios and projected costs in retirement," said Ready.

The average retirement age of those surveyed was 62, significantly below the age of 70 to which many are being encouraged to continue working to maximize savings and their Social Security benefits. Twenty-seven percent of men, and 19% of women, felt that their retirement age was earlier than they would have hoped.

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