Ask the Chatbot Games & Quizzes History & Society Science & Tech Biographies Animals & Nature Geography & Travel Arts & Culture ProCon Money Videos
retirement
References
Images & Videos
Infographic showing a color-coded map of the United States with each state shaded to indicate the age at which women can retire with the same lifetime earnings as men, ranging from 65, inlcuding states like California and New York, to 78, including states like Idaho and Louisiana. A bar graph below compares the average ages for women by racial category, Asian women 67, all women 69.7, white women
A video discusses how much to save for retirement.
A 2-minute, 30-second video describes the imporantance of diversifying investments in a financial portfolio.
Britannica AI Icon

retirement

Written by
The Information Architects of Encyclopaedia Britannica

The Information Architects maintain a master list of the topics included in the corpus of  Encyclopædia Britannica, and create and manage the relationships between them.
The Information Architects of Encyclopaedia Britannica
Last updated

Quick Summary

Infographic showing a color-coded map of the United States with each state shaded to indicate the age at which women can retire with the same lifetime earnings as men, ranging from 65, inlcuding states like California and New York, to 78, including states like Idaho and Louisiana. A bar graph below compares the average ages for women by racial category, Asian women 67, all women 69.7, white women
How does the gender pay gap differ across the United States? Use this map to discover the age at which American women are able to retire with the same lifetime earnings as their male counterparts.

Retirement is a phase of life when individuals stop working, typically after reaching a certain age. It involves long-term planning and saving to ensure financial stability. A key aspect is creating a retirement budget to manage income and expenses, which often includes Social Security benefits, pensions, and personal savings. Many people aim to save enough so they don't outlive their money, with guidelines like the 4% rule suggesting a sustainable withdrawal rate. Planning for healthcare costs, such as through Medicare, is also crucial, as these expenses can be significant. Early retirement is an option, but requires a larger financial base and careful consideration of income streams and lifestyle. The Social Security Act, signed in 1935, established a social insurance system to protect workers against wage loss due to retirement, providing a basic monthly income.1234

Summary created from Britannica articles using AI. AI can make mistakes, so verify using Britannica articles.
5 Britannica Sources
  1. How to create a budget for retirement: A financial plan for your newfound freedom
  2. Are you really ready for early retirement?
  3. Social Security - History and Structure of Social Security
  4. Retirement income planning: How to get started
  5. retirement plan

Ask Britannica AI about this topic

Britannica doesn't have a full article on this topic, so we've curated a list of our relevant coverage.