Retirement

Retirement is the stage in an individual’s life when they choose to permanently leave the workforce and cease working for pay. This transition often occurs when a person reaches a certain age, typically associated with eligibility for pension plans or social security benefits. Retirement can be voluntary or mandatory, depending on individual circumstances and employment policies. During retirement, individuals may rely on savings, pensions, or government benefits to support themselves financially. The concept often embodies not just the cessation of work but also the pursuit of leisure activities, travel, hobbies, and spending time with family and friends. Retirement can greatly impact lifestyle, financial planning, and overall well-being, as it marks a significant change in daily routine and purpose.