Retirement is the stage in life when an individual stops working full-time, often due to reaching a certain age or after years of employment. It allows people to enjoy their later years without the responsibilities of a job. Many individuals plan for retirement by saving money in accounts like 401(k)s or IRAs, which provide financial support during this time. During retirement, individuals may choose to engage in various activities such as traveling, volunteering, or pursuing hobbies. This period can also involve receiving benefits from programs like Social Security or pensions, which help maintain financial stability after leaving the workforce.