Retirement

Retirement refers to the phase in an individual’s life when they choose to permanently leave the workforce and cease active employment, typically due to reaching a certain age or after fulfilling specific years of service. This life stage is often associated with transitioning from earning a regular income through employment to relying on savings, pensions, social security, or other forms of financial support. Retirement can also signify the start of a new life chapter, where individuals may pursue hobbies, travel, volunteer, or enjoy leisure activities, reflecting personal interests and desires outside of work obligations. The concept of retirement varies by culture and individual circumstances, including financial readiness and personal goals.