Retirement
Retirement is when people stop working. People may retire when they reach a certain age, or if they get sick or have an accident, or even for their own choice. People cannot generally retire unless they have a pension. Some people may semi-retire and keep some sort of job. People typically do this after working for so many years and growing tired of it.
People who become less able to look after themselves may move to retirement villages,[1] sheltered housing, or nursing homes. They may have to pay for care,or their family may care for them.
Retirement in other uses
The term may also be used when it's not related to people. This can maybe used for when something is out of service, like an old model vehicle.
Retirement Media
Life expectancy in the U.S. substantially exceeds the average retirement age. Those retiring in their sixties are projected to live into their eighties; further, life expectancy increases as one ages.
In the U.S., average balances of retirement accounts, for households having such accounts, exceed median net worth across all age groups. For those 65 and over, 11.6% of retirement accounts have balances of at least $1 million, more than twice that of the $407,581 average (shown).
- Workretire
References
- ↑ Lloyd, Gemma (2023-02-16). "First retirement village addressing 'increasing demand for modernisation' opens". Retrieved 2023-02-16.
