Retirement

Retirement refers to the stage of life when an individual permanently leaves the workforce and ceases to engage in their professional career, typically due to age or the completion of a predetermined working period. This transition often occurs when individuals reach a certain age, commonly around 65, which is associated with pension eligibility and social security benefits in many countries. Retirement can involve a significant lifestyle change, as individuals may shift from structured work schedules to a more flexible routine. During retirement, people may pursue leisure activities, hobbies, travel, volunteer work, or spend more time with family and friends. Financial preparation for retirement is crucial, as it often requires savings and investments to ensure a stable income in the absence of a regular paycheck. Overall, retirement is a significant milestone that reflects the end of one’s primary career phase and the beginning of a new chapter focusing on personal interests and well-being.