Retirement

Retirement is the stage in an individual’s life when they choose to permanently leave the workforce and cease working, typically after having reached a certain age or accumulated enough financial resources. It often involves transitioning from a career to a period of leisure or pursuing personal interests. Retirement can be motivated by a variety of factors, including the desire for rest, pursuing hobbies, spending more time with family, or health considerations. Financial planning plays a crucial role, as individuals often rely on pensions, savings, Social Security, or investments to support themselves during retirement. The experience of retirement can vary widely; some individuals may embrace new activities and volunteer work, while others may struggle with the loss of professional identity or social connections. Overall, retirement represents a significant life change and can encompass both opportunities for fulfillment and challenges related to aging.