Advanced Diploma of Financial Planning (ADFP) Practice Test

The typical retirement age range for most clients falls between 62-65. This range is significant because 62 is often the earliest age at which individuals can start receiving Social Security retirement benefits without a reduction in monthly payments, making it a common choice for many. Additionally, 65 is recognized as the age at which individuals become eligible for Medicare, which is a critical factor in retirement planning. This age range reflects a balance between entering retirement while still having access to important government benefits, influencing many clients' decisions around retirement timing. The other age ranges listed either precede the eligibility for full benefits or extend into ages where many individuals may not be actively considering retirement. Therefore, 62-65 represents a practical and frequently observed choice among clients planning for their retirement years.