Retirement plans are financial strategies designed to help individuals save and invest money for their future when they stop working. These plans can include options like 401(k) accounts, IRAs (Individual Retirement Accounts), and pension plans, which provide income during retirement. Contributions to these plans often come from both employees and employers, and they may offer tax advantages. Choosing the right retirement plan depends on factors like income, employment status, and retirement goals. It's important to start saving early to take advantage of compound interest, which can significantly grow savings over time. Regularly reviewing and adjusting the plan can help ensure it meets future needs.