Retirement refers to the time of life when one chooses to permanently leave the workforce behind. The traditional retirement age is 65 in the United States and most other developed countries, many of which have some kind of national pension or benefits system in place to supplement retirees' incomes.

What does retired mean legally?

1) to stop working at one's occupation. 2) to pay off a promissory note, and thus "retire" the loan. 3) for a jury to go into the jury room to decide on a verdict after all evidence, argument and jury instructions have been completed.

Does retirement mean not working?

For some, "retirement" refers to life after we stop working altogether. But this isn't the only definition of "retirement" -- and it may not be the version that would make you the happiest. Let's take a look at some alternative types of retirement to see which one you should be planning for.