Definitions (2)

1. The period of a person's life during which he/she is no longer working, or the commencement of that period. The standard age for retirement in the United States is considered 65, although many individuals choose to retire earlier or later due to personal or financial reasons. After retirement, an individual's needs are usually funded through any combination of sources including a pension plan, a retirement acount such as a 401(k) plan, Social Security, and/or a savings account/nest egg.
2. The disposal of a fixed asset at the end of its useful life.

Use retirement in a sentence

We had been planning for retirement as we did not feel confident we could rely on social security being our only income.

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You can take your retirement any time you like, but good luck getting that hot barista to give you the senior discount before you're over 65.

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Despite being 77 years my old, my mother still refuses to consider retirement and insists on going to work to her job as a teacher every day.

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retirement readiness Canada Pension Plan (CPP)