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Information About Retirement

After Retiring
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A Plan You Can Trust
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A Warning
Enough Retirement Income?
Examine Nest Egg
Facts About SSI
Making Adjustments
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Nursing Homes
Pay Off Your Mortgage
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Retirement Hints
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Retirement Shock
Retirement Today
Reverse Mortgages
Risking Retirement
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Take Things Seriously
The Elderly
Things To Consider
Unwise Mortgages
Your Greatest Asset
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Retirement is the complete, or partial, withdrawal from customary day to day activities in which a person partakes to earn a living. Retirement is the point in which a person ceases working on a permanent basis.

  • A person may retire but keep working part time at the same job or, full or part time, at another job, either out of choice or by necessity.

The retirement age in the United States is usually set between the ages of 62 and 65 years, although many people make a personal choice to keep working even longer, if they are allowed, or they quit working at an age below what is considered the normal retirement age.

Although most people retire voluntarily, many others are forced to take involuntary retirement:

  • Voluntary retirement is usually determined by an individual when he, or she, decides that they have enough personal savings or an adequate pension, or if they have reached an age, or physical condition, that makes it necessary to stop working. In such cases, the individual makes the decision.
  • In cases of non-voluntary retirement, a person may reach a determined age that is set by the government, or by the employer, which doesn't allow the person to work anymore. An involuntary retirement may also be caused by an accident or an illness that prevents the individual from working.

The age in which a person decides to retire may also depend on whether he or she receives a full pension or a partial pension. This makes a big difference when the dollar amounts are calculated, along with social security benefits and other sources of income, to determine if living on a partial pension is feasible, as opposed to a full pension. This makes the decision one in which a lot of thought has to go into.

To most people, the thought of retirement conjures up feelings of leisure life, the ability to travel, to enjoy hobbies, to play golf every day, to doodle around the house, take up dancing, or to participate in social activities while meeting new friends.

Some people want to retire because they have dreams of moving to warmer climates likes those of Florida, Arizona, New Mexico, and California. Still, others look forward to retiring so they can start a business of their own.

In essence, retirement means different things to different people. What you do with your time once you retire can be rewarding on one hand, and stressful on the other. Major adjustments to your lifestyle has to considered. You will have an abundance of free time because you will not have your job to go to every day.

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