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class="vector-toc-numb">2</span> <span>In specific countries</span> </div> </a> <ul id="toc-In_specific_countries-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Data_sets" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Data_sets"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Data sets</span> </div> </a> <ul id="toc-Data_sets-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Factors_affecting_retirement_decisions" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Factors_affecting_retirement_decisions"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Factors affecting retirement decisions</span> </div> </a> <button aria-controls="toc-Factors_affecting_retirement_decisions-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Factors affecting retirement decisions subsection</span> </button> <ul id="toc-Factors_affecting_retirement_decisions-sublist" class="vector-toc-list"> <li id="toc-EU_member_states" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#EU_member_states"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.1</span> <span>EU member states</span> </div> </a> <ul id="toc-EU_member_states-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_States" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_States"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.2</span> <span>United States</span> </div> </a> <ul id="toc-United_States-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Saving_for_retirement" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Saving_for_retirement"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Saving for retirement</span> </div> </a> <button aria-controls="toc-Saving_for_retirement-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Saving for retirement subsection</span> </button> <ul id="toc-Saving_for_retirement-sublist" class="vector-toc-list"> <li id="toc-Calculators" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Calculators"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.1</span> <span>Calculators</span> </div> </a> <ul id="toc-Calculators-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Size_of_lump_sum_required" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Size_of_lump_sum_required"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.2</span> <span>Size of lump sum required</span> </div> </a> <ul id="toc-Size_of_lump_sum_required-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Size_of_lump_sum_saved" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Size_of_lump_sum_saved"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.3</span> <span>Size of lump sum saved</span> </div> </a> <ul id="toc-Size_of_lump_sum_saved-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Equate_and_derive_necessary_saving_proportion" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Equate_and_derive_necessary_saving_proportion"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.4</span> <span>Equate and derive necessary saving proportion</span> </div> </a> <ul id="toc-Equate_and_derive_necessary_saving_proportion-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Sample_results" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Sample_results"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.5</span> <span>Sample results</span> </div> </a> <ul id="toc-Sample_results-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Monte_Carlo:_Better_allowance_for_randomness" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Monte_Carlo:_Better_allowance_for_randomness"> <div class="vector-toc-text"> <span class="vector-toc-numb">5.6</span> <span>Monte Carlo: Better allowance for randomness</span> </div> </a> <ul id="toc-Monte_Carlo:_Better_allowance_for_randomness-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Early_retirement" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Early_retirement"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Early retirement</span> </div> </a> <button aria-controls="toc-Early_retirement-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Early retirement subsection</span> </button> <ul id="toc-Early_retirement-sublist" class="vector-toc-list"> <li id="toc-Savings_needed" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Savings_needed"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.1</span> <span>Savings needed</span> </div> </a> <ul id="toc-Savings_needed-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Calculations_using_actual_numbers" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Calculations_using_actual_numbers"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.2</span> <span>Calculations using actual numbers</span> </div> </a> <ul id="toc-Calculations_using_actual_numbers-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Life_after_retirement" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Life_after_retirement"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Life after retirement</span> </div> </a> <ul id="toc-Life_after_retirement-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Retirement</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 38 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-38" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">38 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-af mw-list-item"><a href="https://af.wikipedia.org/wiki/Aftrede" title="Aftrede – Afrikaans" lang="af" hreflang="af" data-title="Aftrede" data-language-autonym="Afrikaans" data-language-local-name="Afrikaans" class="interlanguage-link-target"><span>Afrikaans</span></a></li><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%AA%D9%82%D8%A7%D8%B9%D8%AF" title="تقاعد – Arabic" lang="ar" hreflang="ar" data-title="تقاعد" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Xubilaci%C3%B3n" title="Xubilación – Asturian" lang="ast" hreflang="ast" data-title="Xubilación" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Jubilaci%C3%B3" title="Jubilació – Catalan" lang="ca" hreflang="ca" data-title="Jubilació" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-sn mw-list-item"><a href="https://sn.wikipedia.org/wiki/Kurega_basa" title="Kurega basa – Shona" lang="sn" hreflang="sn" data-title="Kurega basa" data-language-autonym="ChiShona" data-language-local-name="Shona" class="interlanguage-link-target"><span>ChiShona</span></a></li><li class="interlanguage-link interwiki-cy mw-list-item"><a href="https://cy.wikipedia.org/wiki/Ymddeoliad" title="Ymddeoliad – Welsh" lang="cy" hreflang="cy" data-title="Ymddeoliad" data-language-autonym="Cymraeg" data-language-local-name="Welsh" class="interlanguage-link-target"><span>Cymraeg</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Ruhestand" title="Ruhestand – German" lang="de" hreflang="de" data-title="Ruhestand" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/T%C3%B6%C3%B6j%C3%A4tt" title="Tööjätt – Estonian" lang="et" hreflang="et" data-title="Tööjätt" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%A3%CF%85%CE%BD%CF%84%CE%B1%CE%BE%CE%B9%CE%BF%CE%B4%CF%8C%CF%84%CE%B7%CF%83%CE%B7" title="Συνταξιοδότηση – Greek" lang="el" hreflang="el" data-title="Συνταξιοδότηση" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Jubilaci%C3%B3n" title="Jubilación – Spanish" lang="es" hreflang="es" data-title="Jubilación" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Erretiro" title="Erretiro – Basque" lang="eu" hreflang="eu" data-title="Erretiro" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A8%D8%A7%D8%B2%D9%86%D8%B4%D8%B3%D8%AA%DA%AF%DB%8C" title="بازنشستگی – Persian" lang="fa" hreflang="fa" data-title="بازنشستگی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Retraite_(%C3%A9conomie)" title="Retraite (économie) – French" lang="fr" hreflang="fr" data-title="Retraite (économie)" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Xubilaci%C3%B3n" title="Xubilación – Galician" lang="gl" hreflang="gl" data-title="Xubilación" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%ED%87%B4%EC%A7%81" title="퇴직 – Korean" lang="ko" hreflang="ko" data-title="퇴직" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B8%E0%A5%87%E0%A4%B5%E0%A4%BE%E0%A4%A8%E0%A4%BF%E0%A4%B5%E0%A5%83%E0%A4%A4%E0%A5%8D%E0%A4%A4%E0%A4%BF" title="सेवानिवृत्ति – Hindi" lang="hi" hreflang="hi" data-title="सेवानिवृत्ति" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Pensiun" title="Pensiun – Indonesian" lang="id" hreflang="id" data-title="Pensiun" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%A4%D7%A8%D7%99%D7%A9%D7%94_%D7%9C%D7%92%D7%9E%D7%9C%D7%90%D7%95%D7%AA" title="פרישה לגמלאות – Hebrew" lang="he" hreflang="he" data-title="פרישה לגמלאות" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%A8%E0%B2%BF%E0%B2%B5%E0%B3%83%E0%B2%A4%E0%B3%8D%E0%B2%A4%E0%B2%BF" title="ನಿವೃತ್ತಿ – Kannada" lang="kn" hreflang="kn" data-title="ನಿವೃತ್ತಿ" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-ku mw-list-item"><a href="https://ku.wikipedia.org/wiki/Malni%C5%9F%C3%AEn%C3%AE" title="Malnişînî – Kurdish" lang="ku" hreflang="ku" data-title="Malnişînî" data-language-autonym="Kurdî" data-language-local-name="Kurdish" class="interlanguage-link-target"><span>Kurdî</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Persaraan" title="Persaraan – Malay" lang="ms" hreflang="ms" data-title="Persaraan" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E5%BC%95%E9%80%80" title="引退 – Japanese" lang="ja" hreflang="ja" data-title="引退" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Pensjon" title="Pensjon – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Pensjon" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a href="https://nn.wikipedia.org/wiki/Pensjon" title="Pensjon – Norwegian Nynorsk" lang="nn" hreflang="nn" data-title="Pensjon" data-language-autonym="Norsk nynorsk" data-language-local-name="Norwegian Nynorsk" class="interlanguage-link-target"><span>Norsk nynorsk</span></a></li><li class="interlanguage-link interwiki-or mw-list-item"><a href="https://or.wikipedia.org/wiki/%E0%AC%85%E0%AC%AC%E0%AC%B8%E0%AC%B0" title="ଅବସର – Odia" lang="or" hreflang="or" data-title="ଅବସର" data-language-autonym="ଓଡ଼ିଆ" data-language-local-name="Odia" class="interlanguage-link-target"><span>ଓଡ଼ିଆ</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Aposentadoria" title="Aposentadoria – Portuguese" lang="pt" hreflang="pt" data-title="Aposentadoria" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Pensionare" title="Pensionare – Romanian" lang="ro" hreflang="ro" data-title="Pensionare" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%92%D1%8B%D1%85%D0%BE%D0%B4_%D0%BD%D0%B0_%D0%BF%D0%B5%D0%BD%D1%81%D0%B8%D1%8E" title="Выход на пенсию – Russian" lang="ru" hreflang="ru" data-title="Выход на пенсию" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Pensionimi" title="Pensionimi – Albanian" lang="sq" hreflang="sq" data-title="Pensionimi" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Retirement" title="Retirement – Simple English" lang="en-simple" hreflang="en-simple" data-title="Retirement" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Upokojitev" title="Upokojitev – Slovenian" lang="sl" hreflang="sl" data-title="Upokojitev" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-ckb mw-list-item"><a href="https://ckb.wikipedia.org/wiki/%D8%AE%D8%A7%D9%86%DB%95%D9%86%D8%B4%DB%8C%D9%86%DB%8C" title="خانەنشینی – Central Kurdish" lang="ckb" hreflang="ckb" data-title="خانەنشینی" data-language-autonym="کوردی" data-language-local-name="Central Kurdish" class="interlanguage-link-target"><span>کوردی</span></a></li><li class="interlanguage-link interwiki-sv badge-Q70893996 mw-list-item" title=""><a href="https://sv.wikipedia.org/wiki/Pensionering" title="Pensionering – Swedish" lang="sv" hreflang="sv" data-title="Pensionering" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%AA%E0%AE%A3%E0%AE%BF_%E0%AE%93%E0%AE%AF%E0%AF%8D%E0%AE%B5%E0%AF%81" title="பணி ஓய்வு – Tamil" lang="ta" hreflang="ta" data-title="பணி ஓய்வு" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-tg mw-list-item"><a href="https://tg.wikipedia.org/wiki/%D0%91%D0%BE%D0%B7%D0%BD%D0%B8%D1%88%D0%B0%D1%81%D1%82%D0%B0%D0%B3%D3%A3" title="Бознишастагӣ – Tajik" lang="tg" hreflang="tg" data-title="Бознишастагӣ" data-language-autonym="Тоҷикӣ" data-language-local-name="Tajik" class="interlanguage-link-target"><span>Тоҷикӣ</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Emeklilik" title="Emeklilik – Turkish" lang="tr" hreflang="tr" data-title="Emeklilik" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li 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nomobile noexcerpt noprint searchaux" style="display:none">Point where a person ceases employment permanently</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">For other uses, see <a href="/wiki/Retirement_(disambiguation)" class="mw-disambig" title="Retirement (disambiguation)">Retirement (disambiguation)</a>.</div><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output 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.mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Economics" title="Category:Economics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="border-top:1px #fafafa solid; border-bottom:1px #fafafa solid; background:#efefef;padding:0.2em;font-size:200%;"><a href="/wiki/Economics" title="Economics">Economics</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Supply-demand-equilibrium.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/120px-Supply-demand-equilibrium.svg.png" decoding="async" width="120" height="120" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/180px-Supply-demand-equilibrium.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/240px-Supply-demand-equilibrium.svg.png 2x" data-file-width="217" data-file-height="217" /></a></span></td></tr><tr><td class="sidebar-above"> <ul><li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History</a></li> <li><a href="/wiki/Outline_of_economics" title="Outline of economics">Outline</a></li> <li><a href="/wiki/Index_of_economics_articles" title="Index of economics articles">Index</a></li></ul></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Branches and <a href="/wiki/JEL_classification_codes" title="JEL classification codes">classifications</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li> <li><a href="/wiki/Econometrics" title="Econometrics">Econometrics</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/International_economics" title="International economics">International</a></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Micro</a> / <a href="/wiki/Macroeconomics" title="Macroeconomics">Macro</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical</a></li> <li><a href="/wiki/Economic_methodology" title="Economic methodology">Methodology</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political</a></li> <li><a href="/wiki/JEL_classification_codes" title="JEL classification codes">JEL classification codes</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Concepts, theory and techniques</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Economic growth</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounting</a></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Operations_research" title="Operations research">Operations research</a></li> <li><a href="/wiki/Middle_income_trap" title="Middle income trap">Middle income trap</a></li> <li><a href="/wiki/Industrial_complex" title="Industrial complex">Industrial complex</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">By application</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Agricultural_economics" title="Agricultural economics">Agricultural</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographical</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Notable <a href="/wiki/Economist" title="Economist">economists</a></div><div class="sidebar-list-content mw-collapsible-content"> <div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Krugman</a></li> <li><a href="/wiki/Thomas_Piketty" title="Thomas Piketty">Piketty</a></li> <li><i><a href="/wiki/Category:Economists" title="Category:Economists">more</a></i></li></ul></div></div> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)"><a href="/wiki/Category:Economics_lists" title="Category:Economics lists">Lists</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Glossary_of_economics" title="Glossary of economics">Glossary</a></li> <li><a href="/wiki/List_of_economists" title="List of economists">Economists</a></li> <li><a href="/wiki/List_of_important_publications_in_economics" title="List of important publications in economics">Publications</a> (<a href="/wiki/List_of_economics_journals" title="List of economics journals">journals</a>)</li> <li><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/16px-Bills_and_coins.svg.png" decoding="async" width="16" height="8" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/24px-Bills_and_coins.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/55/Bills_and_coins.svg/32px-Bills_and_coins.svg.png 2x" data-file-width="960" data-file-height="465" /></span></span> </span><a href="/wiki/Portal:Money" title="Portal:Money">Money portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics_sidebar" title="Template:Economics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics_sidebar" title="Template talk:Economics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics_sidebar" title="Special:EditPage/Template:Economics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Retirement</b> is the withdrawal from one's position or occupation or from one's active working life.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> A person may also semi-retire by reducing work hours or workload. </p><p>Many people choose to retire when they are elderly or incapable of doing their job for health reasons. People may also retire when they are eligible for private or public <a href="/wiki/Pension" title="Pension">pension</a> <a href="/wiki/Welfare" class="mw-redirect" title="Welfare">benefits</a>, although some are forced to retire when bodily conditions no longer allow the person to work any longer (by illness or accident) or as a result of legislation concerning their positions.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> In most countries, the idea of retirement is of recent origin, being introduced during the late-nineteenth and early-twentieth centuries. Previously, low <a href="/wiki/Life_expectancy" title="Life expectancy">life expectancy</a>, lack of social security and the absence of pension arrangements meant that most workers continued to work until their death. <a href="/wiki/German_Empire" title="German Empire">Germany</a> was the first country to introduce retirement benefits in 1889.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>Nowadays, most developed countries have systems to provide pensions on retirement in <a href="/wiki/Old_age" title="Old age">old age</a>, funded by employers or the state. In many poorer countries, there is no support for the elderly beyond that provided through the family. Today, retirement with a pension is considered a right of the worker in many societies; hard ideological, social, cultural and political battles have been fought over whether this is a right. In many Western countries, this is a right embodied in national constitutions. </p><p>An increasing number of individuals are choosing to put off this point of total retirement, by selecting to exist in the emerging state of <a href="/wiki/Pre-tirement" title="Pre-tirement">pre-tirement</a>.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/History_of_retirement" title="History of retirement">History of retirement</a></div> <p>Retirement, or the practice of leaving one's job or ceasing to work after reaching a certain age, has been around since around the 18th century. Prior to the 18th century, humans had an average life expectancy between 26 and 40 years.<sup id="cite_ref-Galor&Moav2007_5-0" class="reference"><a href="#cite_note-Galor&Moav2007-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-sticerd.lse.ac.uk_6-0" class="reference"><a href="#cite_note-sticerd.lse.ac.uk-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Expectations_of_Life_8-0" class="reference"><a href="#cite_note-Expectations_of_Life-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> In consequence, only a small percentage of the population reached an age where physical impairments began to be obstacles to working.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2018)">citation needed</span></a></i>]</sup> Countries began to adopt government policies on retirement during the late 19th century and the 20th century, beginning in <a href="/wiki/German_Empire" title="German Empire">Germany</a> under <a href="/wiki/Otto_von_Bismarck" title="Otto von Bismarck">Otto von Bismarck</a>.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="In_specific_countries">In specific countries</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=2" title="Edit section: In specific countries"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Retirement_age" title="Retirement age">Retirement age</a></div> <p>A person may retire at whatever age they please. However, a country's tax laws or state old-age pension rules usually mean that in a given country a certain age is thought of as the standard retirement age. As <a href="/wiki/Life_expectancy" title="Life expectancy">life expectancy</a> increases and more and more people live to an advanced age, in many countries the age at which a pension is awarded has been increased in the 21st century, often progressively.<sup id="cite_ref-retage_10-0" class="reference"><a href="#cite_note-retage-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p><p>The standard retirement age varies from country to country but it is generally between 50 and 70 (according to latest statistics, 2011). In some countries this age is different for men and women, although this has recently been challenged in some countries (e.g., Austria), and in some countries the ages are being brought into line.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> The table below shows the variation in eligibility ages for public old-age benefits in the United States and many European countries, according to the <a href="/wiki/OECD" title="OECD">OECD</a>. </p><p><i>The retirement age in many countries is increasing, often starting in the 2010s and continuing until the late 2020s.</i> </p> <table class="wikitable sortable"> <tbody><tr> <th>Country </th> <th>Early retirement age </th> <th>Normal retirement age </th> <th>Employed, 55–59 </th> <th>Employed, 60–64 </th> <th>Employed, 65–69 </th> <th>Employed, 70+ </th></tr> <tr> <th>Austria </th> <td>60 (57)</td> <td>65 (60)</td> <td>39%</td> <td>7%</td> <td>1%</td> <td>0% </td></tr> <tr> <th>Belgium </th> <td>60</td> <td>65</td> <td>45%</td> <td>12%</td> <td>1%</td> <td>0% </td></tr> <tr> <th>Cambodia </th> <td>50</td> <td>55</td> <td>16%</td> <td>1%</td> <td>0%</td> <td>0% </td></tr> <tr> <th>Denmark <sup>1</sup> </th> <td>60–65<sup id="cite_ref-aeldresagen_12-0" class="reference"><a href="#cite_note-aeldresagen-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup></td> <td>65–68<sup id="cite_ref-borgerdk_13-0" class="reference"><a href="#cite_note-borgerdk-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup></td> <td>77%</td> <td>35%</td> <td>9%</td> <td>3% </td></tr> <tr> <th>France <sup>2</sup> </th> <td>62</td> <td>65</td> <td>51%</td> <td>12%</td> <td>1%</td> <td>0% </td></tr> <tr> <th>Germany </th> <td>65</td> <td>67</td> <td>61%</td> <td>23%</td> <td>3%</td> <td>0% </td></tr> <tr> <th>Greece </th> <td>58</td> <td>67<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup></td> <td>65%</td> <td>18%</td> <td>4%</td> <td>0% </td></tr> <tr> <th>Italy </th> <td>57</td> <td>67</td> <td>26%</td> <td>12%</td> <td>1%</td> <td>0% </td></tr> <tr> <th>Latvia <sup>3</sup> </th> <td>none</td> <td>63–65<sup id="cite_ref-vsaa_15-0" class="reference"><a href="#cite_note-vsaa-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup></td> <td>?</td> <td>?</td> <td>?</td> <td>? </td></tr> <tr> <th>Netherlands </th> <td>60</td> <td>65 (67)</td> <td>53%</td> <td>22%</td> <td>3%</td> <td>0% </td></tr> <tr> <th>Norway </th> <td>62</td> <td>67</td> <td>74%</td> <td>33%</td> <td>7%</td> <td>1% </td></tr> <tr> <th>Spain <sup>4</sup> </th> <td>60</td> <td>65</td> <td>46%</td> <td>22%</td> <td>0%</td> <td>0% </td></tr> <tr> <th>Sweden </th> <td>61</td> <td>65</td> <td>78%</td> <td>58%</td> <td>5%</td> <td>1% </td></tr> <tr> <th>Switzerland </th> <td>63 (61), [58]</td> <td>65 (64)</td> <td>77%</td> <td>46%</td> <td>7%</td> <td>2% </td></tr> <tr> <th>Thailand </th> <td>50</td> <td>60</td> <td>?</td> <td>?</td> <td>?</td> <td>? </td></tr> <tr> <th>United Kingdom </th> <td>65</td> <td>68</td> <td>69%</td> <td>40%</td> <td>10%</td> <td>2% </td></tr> <tr> <th>United States <sup>5</sup> </th> <td>62</td> <td>67</td> <td>66%</td> <td>43%</td> <td>20%</td> <td>5% </td></tr> <tr> <th>Kenya </th> <td>50</td> <td>55</td> <td>66%</td> <td>43%</td> <td>20%</td> <td>5% </td></tr></tbody></table> <p>Notes: Parentheses indicate eligibility age for women when different. Sources: Cols. 1–2: OECD Pensions at a Glance (2005), Cols. 3–6: Tabulations from HRS, ELSA and SHARE. Square brackets indicate early retirement for some public employees. </p><p><sup>1</sup> In Denmark, early retirement is called <i>efterløn</i> and there are some requirements to be met such as contributing to the labor market for at least 20 years.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> Early and normal retirement ages vary according to the date of birth of the person filing for retirement.<sup id="cite_ref-aeldresagen_12-1" class="reference"><a href="#cite_note-aeldresagen-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-borgerdk_13-1" class="reference"><a href="#cite_note-borgerdk-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p><sup>2</sup> In France, the retirement age was 60, with full pension entitlement at 65; in 2010 this was extended to 62 and 67 respectively, increasing progressively over the following eight years.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p><sup>3</sup> In Latvia, the retirement age depends on the date of birth of the person filing for retirement.<sup id="cite_ref-vsaa_15-1" class="reference"><a href="#cite_note-vsaa-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p><sup>4</sup> In Spain it was ruled that the retirement age was to increase from 65 to 67 progressively from 2013 to 2027.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> </p><p><sup>5</sup> In the United States, while the normal retirement age for <a href="/wiki/Social_Security_(United_States)" title="Social Security (United States)">Social Security</a>, or Old Age Survivors Insurance (OASI) was age 65 to receive unreduced benefits, it is gradually increasing to age 67 by 2027.<sup id="cite_ref-retage_10-1" class="reference"><a href="#cite_note-retage-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Public servants are often not covered by Social Security but have their own pension programs. Police officers in the United States may typically retire at half pay after 20 years of service, or three-quarter pay after 30 years, allowing retirement from the early forties.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> Military members of the <a href="/wiki/US_Armed_Forces" class="mw-redirect" title="US Armed Forces">US Armed Forces</a> may elect to retire after 20 years of active duty. (See also: <a href="/wiki/Military_retirement_pay" class="mw-redirect" title="Military retirement pay">military retirement pay</a> and <a href="/wiki/Military_pension" class="mw-redirect" title="Military pension">military pension</a>.) </p><p>Iranian age of retirement was increased much in 2022 and 2023 to 42 years of work insurance payment record to avoid government social security bankruptcy.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Data_sets">Data sets</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=3" title="Edit section: Data sets"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Recent advances in data collection have vastly improved the ability to understand important relationships between retirement and factors such as health, wealth, employment characteristics and family dynamics, among others. The most prominent study for examining retirement behavior in the United States is the ongoing <a href="/wiki/Health_and_Retirement_Study" title="Health and Retirement Study">Health and Retirement Study</a> (HRS), first fielded in 1992. The HRS is a nationally representative longitudinal survey of adults in the U.S. ages 51+, conducted every two years, and contains a wealth of information on such topics as labor force participation (e.g., current employment, job history, retirement plans, industry/occupation, pensions, disability), health (e.g., health status and history, health and <a href="/wiki/Life_insurance" title="Life insurance">life insurance</a>, cognition), financial variables (e.g., assets and income, housing, net worth, wills, consumption and savings), family characteristics (e.g., family structure, transfers, parent/child/grandchild/sibling information) and a host of other topics (e.g., expectations, expenses, internet use, risk taking, psychosocial, time use).<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p><p>2002 and 2004 saw the introductions of the English Longitudinal Study of Ageing (ELSA) and the Survey of Health, Ageing and Retirement in Europe (SHARE), which includes respondents from 14 continental European countries plus Israel. These surveys were closely modeled after the HRS in the sample frame, design and content. A number of other countries (e.g., Japan, South Korea) also now field HRS-like surveys, and others (e.g., China, India) are currently fielding pilot studies. These data sets have expanded the ability of researchers to examine questions about retirement behavior by adding a cross-national perspective. </p> <table class="wikitable"> <tbody><tr> <th>Study </th> <th>First wave </th> <th>Eligibility age </th> <th>Representative year/last wave </th> <th>Sample size: households </th> <th>Sample size: individuals </th></tr> <tr> <td></td> <td></td> <td></td> <td></td> <td></td> <td> </td></tr> <tr> <td><a rel="nofollow" class="external text" href="http://hrsonline.isr.umich.edu/">Health and Retirement Study (HRS)</a></td> <td>1992</td> <td>51+</td> <td>2006</td> <td>12,288</td> <td>18,469 </td></tr> <tr> <td><a rel="nofollow" class="external text" href="http://www.mhas.pop.upenn.edu/english/home.htm">Mexican Health and Aging Study (MHAS)</a></td> <td>2001</td> <td>50+</td> <td>2003</td> <td>8,614</td> <td>13,497 </td></tr> <tr> <td><a rel="nofollow" class="external text" href="http://www.ifs.org.uk/elsa/">English Longitudinal Study of Ageing (ELSA)</a></td> <td>2002</td> <td>50+</td> <td>2006</td> <td>6,484</td> <td>9,718 </td></tr> <tr> <td><a rel="nofollow" class="external text" href="http://www.share-project.org/">Survey of Health, Ageing and Retirement in Europe (SHARE)</a></td> <td>2004</td> <td>50+</td> <td>2006</td> <td>22,255</td> <td>32,442 </td></tr> <tr> <td><a rel="nofollow" class="external text" href="https://web.archive.org/web/20140416182301/http://survey.keis.or.kr/ENCOMAM0000N.do">Korean Longitudinal Study of Aging (KLoSA)</a></td> <td>2006</td> <td>45+</td> <td>2006</td> <td>6,171</td> <td>10,254 </td></tr> <tr> <td>Japanese Health and Retirement Study (JHRS)</td> <td>2007</td> <td>45–75</td> <td>2007</td> <td></td> <td>Est. 10,000 </td></tr> <tr> <td><a rel="nofollow" class="external text" href="https://www.who.int/healthinfo/systems/sage/en/index.html">WHO Study on Global Ageing and Adult Health (SAGE)</a></td> <td>2007</td> <td>50+/18–49</td> <td>2007</td> <td>Est. 5,000/1,000</td> <td> </td></tr> <tr> <td><a rel="nofollow" class="external text" href="https://web.archive.org/web/20100915044000/http://charls.ccer.edu.cn/charls/">Chinese Health and Retirement Study (CHARLS)</a></td> <td>pilot 2008</td> <td>45+</td> <td>2008</td> <td>Est. 1,500</td> <td>Est. 2,700 </td></tr> <tr> <td>Longitudinal Aging Study in India (LASI)</td> <td>pilot 2009</td> <td>45+</td> <td>2009</td> <td></td> <td>Est. 2,000 </td></tr> <tr> <td> </td></tr></tbody></table> <p>Notes: MHAS discontinued in 2003; ELSA numbers exclude institutionalized (nursing homes). Source: Borsch-Supan et al., eds. (November 2008). Health, Ageing and Retirement in Europe (2004–2007): Starting the Longitudinal Dimension. </p> <div class="mw-heading mw-heading2"><h2 id="Factors_affecting_retirement_decisions">Factors affecting retirement decisions</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=4" title="Edit section: Factors affecting retirement decisions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Many factors affect people's retirement decisions. Retirement funding education is a big factor that affects the success of an individual's retirement experience. Social Security plays an important role because most individuals solely rely on Social Security as their only retirement option, when Social Security's trust funds are expected to be depleted by 2034.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> Knowledge affects an individual's retirement decisions by simply finding more reliable retirement options such as Individual Retirement Accounts or Employer-Sponsored Plans. In countries around the world, people are much more likely to retire at the early and normal retirement ages of the public pension system (e.g., ages 62 and 65 in the U.S.).<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> This pattern cannot be explained by different financial incentives to retire at these ages since typically retirement benefits at these ages are approximately actuarially fair; that is, the present value of lifetime pension benefits (pension wealth) conditional on retiring at age <i>a</i> is approximately the same as pension wealth conditional on retiring one year later at age <i>a</i>+1.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> Nevertheless, a large literature has found that individuals respond significantly to financial incentives relating to retirement (e.g., to discontinuities stemming from the <a href="/wiki/Earnings_test_(US)" class="mw-redirect" title="Earnings test (US)">Social Security earnings test</a> or the tax system).<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p><p>Greater wealth tends to lead to earlier retirement since wealthier individuals can essentially "purchase" additional leisure. Generally, the effect of wealth on retirement is difficult to estimate empirically since observing greater wealth at older ages may be the result of increased saving over the working life in anticipation of earlier retirement. However, many economists have found creative ways to estimate wealth effects on retirement and typically find that they are small. For example, one paper exploits the receipt of an inheritance to measure the effect of wealth shocks on retirement using data from the HRS.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> The authors find that receiving an inheritance increases the probability of retiring earlier than expected by 4.4 percentage points, or 12 percent relative to the baseline retirement rate, over an eight-year period. </p><p>A great deal of attention has surrounded how the <a href="/wiki/Financial_crisis_of_2007%E2%80%932008" class="mw-redirect" title="Financial crisis of 2007–2008">Financial crisis of 2007–2008</a> and subsequent <a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a> are affecting retirement decisions, with the conventional wisdom saying that fewer people will retire since their savings have been depleted; however recent research suggests that the opposite may happen. Using data from the HRS, researchers examined trends in defined benefit (DB) vs. defined contribution (DC) pension plans and found that those nearing retirement had only limited exposure to the recent stock market decline and thus are not likely to substantially delay their retirement.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> At the same time, using data from the Current Population Survey (CPS), another study estimates that mass layoffs are likely to lead to an increase in retirement almost 50% larger than the decrease brought about by the stock market crash, so that on net retirements are likely to increase in response to the crisis.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p><p>More information tells of how many who retire will continue to work, but not in the career they have had for the majority of their life. Job openings will increase in the next 5 years due to retirements of the baby boomer generation. The Over 50 population is actually the fastest growing labor groups in the US. </p><p>A great deal of research has examined the effects of health status and health shocks on retirement. It is widely found that individuals in poor health generally retire earlier than those in better health. This does not necessarily imply that poor health status leads people to retire earlier, since in surveys retirees may be more likely to exaggerate their poor health status to justify their earlier decision to retire. This justification bias, however, is likely to be small.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> In general, declining health over time, as well as the onset of new health conditions, have been found to be positively related to earlier retirement.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> Health conditions that can cause someone to retire include <a href="/wiki/Hypertension" title="Hypertension">hypertension</a>, <a href="/wiki/Diabetes_mellitus" class="mw-redirect" title="Diabetes mellitus">diabetes mellitus</a>, <a href="/wiki/Sleep_apnea" title="Sleep apnea">sleep apnea</a>, <a href="/wiki/Joint_diseases" class="mw-redirect" title="Joint diseases">joint diseases</a>, and <a href="/wiki/Hyperlipidemia" title="Hyperlipidemia">hyperlipidemia</a>.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>Most people are married when they reach retirement age; thus, spouse's employment status may affect one's decision to retire. On average, husbands are three years older than their wives in the U.S., and spouses often coordinate their retirement decisions. Thus, men are more likely to retire if their wives are also retired than if they are still in the labor force, and vice versa.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="EU_member_states">EU member states</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=5" title="Edit section: EU member states"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Researchers analyzed factors affecting retirement decisions in <a href="/wiki/EU_member_states" class="mw-redirect" title="EU member states">EU member states</a>: </p> <ul><li>Alba-Ramirez (1997) uses micro data from the <a href="/w/index.php?title=Active_Population_Survey_of_Spain&action=edit&redlink=1" class="new" title="Active Population Survey of Spain (page does not exist)">Active Population Survey of Spain</a> and <a href="/wiki/Logit_model" class="mw-redirect" title="Logit model">logit model</a> for analyzing determinants of retirement decision and finds that having more members in the household, and as well as children, has a negative effect on the probability of retirement among older males. This is an intuitive result as males in bigger household with children have to earn more and pension benefits will be less than needed for household.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup></li> <li>Antolin and Scarpetta (1998) using <a href="/wiki/German_Socio-Economic_Panel" class="mw-redirect" title="German Socio-Economic Panel">German Socio-Economic Panel</a> and hazard model find that Socio-demographic factors such as health and gender have a strong impact on the retirement decision: women tend to retire earlier than men, and poor health makes people go into retirement, particularly in the case of <a href="/wiki/Disability" title="Disability">disability</a> retirement. The relationship between health status and retirement is significant for both self-assessed and objective indicators of health status.<sup id="cite_ref-auto_37-0" class="reference"><a href="#cite_note-auto-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> This is similar finding to the previous research of Blau and Riphahn (1997); using individual data from the German Socio-Economic Panel as well, but controlling for different variables they found that if individual has chronic health condition, then he tends to retire.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> Antolin and Scarpetta (1998) use better measure for health status than Blau and Riphahn (1997), because self-assessed and objective indicators of health status are better measures than chronic health condition.<sup id="cite_ref-auto_37-1" class="reference"><a href="#cite_note-auto-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup></li> <li>Blöndal and Scarpetta (1999) find significant effect of socio-demographic factors on the retirement decision. Men tend to retire later than women as women try to benefit from special early retirement schemes in Germany and the Netherlands. Another reason is that they get access to pensions earlier than men as standard age of entitlement to pension is lower for women compared with men in Italy and the United Kingdom. The other interesting finding is that retirement depends on household size: heads of large households prefer not to retire. They think that this can be because of the significance of wages in large households compared with smaller ones and insufficiency of pension benefits. Another finding is that health status is significant factor in all early retirements; poor health conditions are especially significant if respondents join to disability benefit scheme. This result is true for both indicators used to express health status (self assessment and objective indicators).<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> This research is similar to Antolin and Scarpetta (1998) and shows similar results extending sample and implications from Germany to OECD.</li> <li>Murray et al. (2016, 2019) have shown that in the United Kingdom local labour markets of where workers live effects later life work exit.<sup id="cite_ref-:0_40-0" class="reference"><a href="#cite_note-:0-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-:1_41-0" class="reference"><a href="#cite_note-:1-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> In the first study, older workers aged 50 to 75 were more likely to exit the workforce over 10 years (years 2011–2011) if they had lived in a more deprived local authority in 2001. For respondents that identified as sick/disabled in 2011, effects of local area unemployment in 2001 were stronger for respondents who had better self-rated health in 2001.<sup id="cite_ref-:0_40-1" class="reference"><a href="#cite_note-:0-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> The second study used the 1946 Birth Cohort to show that it's not just area unemployment near retirement age that matters for the ages workers retire: higher area unemployment at age 26 was associated with poorer health and lower likelihood of employment at aged 53; and these two individual pathways were identified as the key mediators between area unemployment and retirement age.<sup id="cite_ref-:1_41-1" class="reference"><a href="#cite_note-:1-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup></li> <li>Rashad Mehbaliyev (2011)<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> analyzed how different factors related with health, demographics, behavior, financial status, and macroeconomics can affect retirement status in European Union countries for data collected from the SHARE Wave 2 dataset (<a href="/wiki/Survey_of_Health,_Ageing_and_Retirement_in_Europe" title="Survey of Health, Ageing and Retirement in Europe">Survey of Health, Ageing and Retirement in Europe</a>)<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> and UN sources. He found that males are less likely to be retired compared with females in <a href="/wiki/New_Member_States" class="mw-redirect" title="New Member States">New Member States</a>, which is the opposite result than he found for <a href="/wiki/Old_Member_States" class="mw-redirect" title="Old Member States">Old Member States</a>.<sup id="cite_ref-44" class="reference"><a href="#cite_note-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> He explained that:<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> "The reasons for these results can be the facts that significant <a href="/wiki/Gender_wage_gap" class="mw-redirect" title="Gender wage gap">gender wage gap</a> exists in New Member States,<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> household sizes are bigger in these countries than in Old Member States<sup id="cite_ref-47" class="reference"><a href="#cite_note-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> and males play important role in household income which make them retire less than females."<sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading3"><h3 id="United_States">United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=6" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:20200101_Life_expectancy_increases_with_age_already_achieved_-_chart.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/3/37/20200101_Life_expectancy_increases_with_age_already_achieved_-_chart.svg/220px-20200101_Life_expectancy_increases_with_age_already_achieved_-_chart.svg.png" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/3/37/20200101_Life_expectancy_increases_with_age_already_achieved_-_chart.svg/330px-20200101_Life_expectancy_increases_with_age_already_achieved_-_chart.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/3/37/20200101_Life_expectancy_increases_with_age_already_achieved_-_chart.svg/440px-20200101_Life_expectancy_increases_with_age_already_achieved_-_chart.svg.png 2x" data-file-width="1000" data-file-height="750" /></a><figcaption>Life expectancy in the U.S.<sup id="cite_ref-SocSecPeriodLifeExpectancy_2020_49-0" class="reference"><a href="#cite_note-SocSecPeriodLifeExpectancy_2020-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> substantially exceeds the average retirement age. Those retiring in their sixties are projected to live into their eighties; further, life expectancy increases as one ages.</figcaption></figure> <ul><li>Quinn et al. (1998) find significant correlation between health status and retirement status. They transform answers for question about health status from five levels ("excellent", "very good", "good", "fair" and "poor") into three levels and report results for three groups of people. 85% of respondents who answered "excellent" or "very good" to the question about their health in 1992 were still working two years after this interview, compared to 82% of those who answered "good", and 70% of those answered "fair" or "poor". This fact is also true for year 1996: 73% of people from the first group were still on the job market, while this is 66% and 55% for other groups of people.<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> However, Dhaval, Rashad and Spasojevic (2006) using data from six waves of <a href="/wiki/Health_and_Retirement_Survey" class="mw-redirect" title="Health and Retirement Survey">Health and Retirement Survey</a> (HRS) show that relationship between retirement and health status can imply the opposite effect in reality: physical and mental health decline after retirement.<sup id="cite_ref-51" class="reference"><a href="#cite_note-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup></li> <li>Benitez-Silva (2000) analyzes determinants of labor force status and retirement process among elderly US citizens and possibility of decision returning to work using <a href="/wiki/Logit" title="Logit">logit</a> and <a href="/wiki/Probit" title="Probit">probit</a> models. He uses Health and Retirement Survey (HRS) for this purpose and finds that physical and mental health has significant effect on becoming employed. Male respondents are more likely to change their status from being not-employed to employed, but being insured has a negative effect on switching job status from “not-employed" to "employed" for people aged 60–62 and insignificant effect for 55–59 and aged over 63.<sup id="cite_ref-52" class="reference"><a href="#cite_note-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading2"><h2 id="Saving_for_retirement">Saving for retirement</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=7" title="Edit section: Saving for retirement"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:20230331_Average_retirement_savings_account_balances_and_median_net_worth,_by_age,_US.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/20230331_Average_retirement_savings_account_balances_and_median_net_worth%2C_by_age%2C_US.svg/220px-20230331_Average_retirement_savings_account_balances_and_median_net_worth%2C_by_age%2C_US.svg.png" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d9/20230331_Average_retirement_savings_account_balances_and_median_net_worth%2C_by_age%2C_US.svg/330px-20230331_Average_retirement_savings_account_balances_and_median_net_worth%2C_by_age%2C_US.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d9/20230331_Average_retirement_savings_account_balances_and_median_net_worth%2C_by_age%2C_US.svg/440px-20230331_Average_retirement_savings_account_balances_and_median_net_worth%2C_by_age%2C_US.svg.png 2x" data-file-width="1000" data-file-height="750" /></a><figcaption>In the U.S., average balances of retirement accounts, for households having such accounts, exceed median net worth across all age groups. For those 65 and over, 11.6% of retirement accounts have balances of at least $1 million, more than twice that of the $407,581 average (shown). Those 65 and over have a <i>median</i> net worth of about $250,000 (shown), about a quarter of the group's <i>average</i> (not shown).<sup id="cite_ref-WSJ_20230331_53-0" class="reference"><a href="#cite_note-WSJ_20230331-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>Overall, income after retirement can come from state pensions, occupational pensions, private savings and investments (private pension funds, owned housing), donations (e.g., by children), and social benefits.<sup id="cite_ref-54" class="reference"><a href="#cite_note-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> In some countries an additional lump sum is granted, according to the years of work and the average pay; this is usually provided by the employer. On a personal level, the rising cost of living during retirement is a serious concern to many older adults. <a href="/wiki/Health_care_costs" class="mw-redirect" title="Health care costs">Health care costs</a> play an important role. </p><p>Provision of state pensions is a significant drain on a government's budget. As life expectancy increases and the health of older people improves with medical advances, the age of entitlement to a pension has been increasing progressively since about 2010. </p><p>Older people are more prone to sickness, and the cost of health care in retirement is large. Most countries provide universal health insurance coverage for seniors, although in the United States many people retire before they become eligible for <a href="/wiki/Medicare_(United_States)" title="Medicare (United States)">Medicare</a> health cover at 65 years of age. </p> <div class="mw-heading mw-heading3"><h3 id="Calculators">Calculators</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=8" title="Edit section: Calculators"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A useful and straightforward calculation can be done if it is assumed that interest, after expenses, taxes, and inflation is zero. Assume that in real (after-inflation) terms, one's salary never changes over <i>w</i> years of working life. During <i>p</i> years of pension, one has a living standard that costs a replacement ratio <i>R</i> times as much as one's living standard in working life. The working life living standard is one's salary minus the proportion of salary Z that should be saved. Calculations are per unit salary (e.g., assume salary = 1). </p><p>Then after <i>w</i> years work, retirement age accumulated savings = <i>wZ</i>. To pay for pension for <i>p</i> years, necessary savings at retirement = <i>Rp(1-Z)</i> </p><p>Equate these: <i>wZ</i> = <i>Rp</i>(<i>1-Z</i>) and solve to give <i>Z</i> = <i>Rp</i> / (<i>w + Rp</i>). For example, if <i>w</i> = 35, <i>p</i> = 30 and <i>R</i> = 0.65, a proportion <i>Z</i> = 35.78% should be saved. </p><p>Retirement calculators generally accumulate a proportion of salary up to retirement age. This shows a straightforward case, which nonetheless could be practically useful for optimistic people hoping to work for only as long as they are likely to be retired. </p><p>For more complicated situations, there are several online retirement calculators on the Internet. Many retirement calculators project how much an investor needs to save, and for how long, to provide a certain level of retirement expenditures. Some retirement calculators, appropriate for safe investments, assume a constant, unvarying rate of return. Monte Carlo retirement calculators take volatility into account and project the probability that a particular plan of retirement savings, investments, and expenditures will outlast the retiree. Retirement calculators vary in the extent to which they take taxes, social security, pensions, and other sources of retirement income and expenditures into account. </p><p>The assumptions keyed into a retirement calculator are critical. One of the most important assumptions is the assumed rate of real (after inflation) investment return. A conservative return estimate could be based on the real yield of <a href="/wiki/Inflation-indexed_bond" title="Inflation-indexed bond">Inflation-indexed bonds</a> offered by some governments, including the United States, Canada, and the United Kingdom. The TIP$TER retirement calculator projects the retirement expenditures that a portfolio of inflation-linked bonds, coupled with other income sources like Social Security, would be able to sustain. Current real yields on United States Treasury Inflation Protected Securities (TIPS) are available at the US Treasury site. Current real yields on Canadian 'Real Return Bonds' are available at the Bank of Canada's site. As of December 2011, US Treasury inflation-linked bonds (TIPS) were yielding about 0.8% real per annum for the 30-year maturity and a noteworthy slightly negative real return for the 7-year maturity. </p> <figure class="mw-halign-right" typeof="mw:File"><a href="/wiki/File:Work_40_retire_20.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/77/Work_40_retire_20.jpg/250px-Work_40_retire_20.jpg" decoding="async" width="250" height="180" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/77/Work_40_retire_20.jpg/375px-Work_40_retire_20.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/77/Work_40_retire_20.jpg/500px-Work_40_retire_20.jpg 2x" data-file-width="729" data-file-height="525" /></a><figcaption></figcaption></figure> <p>Many individuals use "retirement calculators" on the Internet to determine the proportion of their pay they should be saving in a tax advantaged-plan (e.g., IRA or 401-K in the US, RRSP in Canada, personal pension in the UK, superannuation in Australia). After expenses and any taxes, a reasonable (though arguably pessimistic) long-term assumption for a safe real rate of return is zero. So in <a href="/wiki/Real_versus_nominal_value_(economics)" class="mw-redirect" title="Real versus nominal value (economics)">real terms</a>, interest does not help the savings grow. Each year of work must pay its share of a year of retirement. For someone planning to work for 40 years and be retired for 20 years, each year of work pays for itself and for half a year of retirement. Hence, 33.33% of pay must be saved, and 66.67% can be spent when earned. After 40 years of saving 33.33% of pay, we have accumulated assets of 13.33 years of pay, as in the graph. In the graph to the right, the lines are straight, which is appropriate given the assumption of a zero real investment return. </p><p>The graph above can be compared with those generated by many retirement calculators. However, most retirement calculators use nominal (not "real" dollars) and therefore require a projection of both the expected inflation rate and the expected nominal rate of return. One way to work around this limitation is to, for example, enter "0% return, 0% inflation" inputs into the calculator. The Bloomberg retirement calculator gives the flexibility to specify, for example, zero inflation and zero investment return and to reproduce the graph above. The MSN retirement calculator in 2011 has as the defaults a realistic 3% per annum inflation rate and optimistic 8% return assumptions; consistency with the December 2011 US nominal bond and inflation-protected bond market rates requires a change to about 3% inflation and 4% investment return before and after retirement. </p><p>Ignoring tax, someone wishing to work for a year and then relax for a year on the same living standard needs to save 50% of pay. Similarly, someone wishing to work from age 25 to 55 and be retired for 30 years till 85 needs to save 50% of pay if government and employment pensions are not a factor and if it is considered appropriate to assume a zero real investment return. The problem that the lifespan is not known in advance can be reduced in some countries by the purchase at retirement of an inflation-indexed <a href="/wiki/Life_annuity" title="Life annuity">life annuity</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Size_of_lump_sum_required">Size of lump sum required</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=9" title="Edit section: Size of lump sum required"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>To pay for pension, assumed for simplicity to be received at the end of each year, and taking discounted values in the manner of a <a href="/wiki/Net_present_value" title="Net present value">net present value</a> calculation, the ideal lump sum available at retirement should be: </p> <dl><dd>(1 – z<sup>prop</sup> ) R <sup>repl</sup> S {(1+ i<sup>real</sup> ) <sup>−1</sup>+(1+ i<sup>real</sup> ) <sup>−2</sup> +... ....+ (1+ i<sup>real</sup> ) <sup>−p</sup>} = (1-z<sup>prop</sup> ) R <sup>repl</sup> S {(1 – (1+i<sup>real</sup>)<sup>−p</sup> )/i<sup>real</sup>}</dd></dl> <p>Above is the standard mathematical formula for the sum of a <a href="/wiki/Geometric_series" title="Geometric series">geometric series</a>. (Or if i<sup>real</sup> =0 then the series in braces sums to p since it then has p equal terms). As an example, assume that S=60,000 per year and that it is desired to replace R<sup>repl</sup>=0.80, or 80%, of pre-retirement living standard for p=30 years. Assume for current purposes that a proportion z <sup>prop</sup>=0.25 (25%) of pay was being saved. Using i<sup>real</sup>=0.02, or 2% per year real return on investments, the necessary lump sum is given by the formula as (1-0.25)*0.80*60,000*annuity-series-sum(30)=36,000*22.396=806,272 in the nation's currency in 2008–2010 terms. To allow for inflation in a straightforward way, it is best to talk of the 806,272 as being '13.43 years of retirement age salary'. It may be appropriate to regard this as being the necessary lump sum to fund 36,000 of annual supplements to any employer or government pensions that are available. It is common to not include any house value in the calculation of this necessary lump sum, so for a homeowner the lump sum pays primarily for non-housing living costs. </p> <div class="mw-heading mw-heading3"><h3 id="Size_of_lump_sum_saved">Size of lump sum saved</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=10" title="Edit section: Size of lump sum saved"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>At retirement, the following amount will have been accumulated: </p> <dl><dd>z<sup>prop</sup> S {(1+ i <sup>rel to pay</sup> )<sup>w-1</sup>+(1+ i <sup>rel to pay</sup> )<sup>w-2</sup> +... ....+ (1+ i <sup>rel to pay</sup> )+ 1 }</dd></dl> <dl><dd> = z<sup>prop</sup> S ((1+i <sup>rel to pay</sup>)<sup>w</sup>- 1)/i <sup>rel to pay</sup></dd></dl> <div class="mw-heading mw-heading3"><h3 id="Equate_and_derive_necessary_saving_proportion">Equate and derive necessary saving proportion</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=11" title="Edit section: Equate and derive necessary saving proportion"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>To make the accumulation match with the lump sum needed to pay pension: </p> <dl><dd>z<sup>prop</sup> S (((1+i <sup>rel to pay</sup> )) <sup>w</sup> – 1)/i <sup>rel to pay</sup> = (1-z<sup>prop</sup> ) R <sup>repl</sup> S (1 – ((1+i <sup>real</sup>)) <sup>−p</sup> )/i<sup> real </sup></dd></dl> <p>Bring z<sup>prop</sup> to the left hand side to give the answer, under this rough and unguaranteed method, for the proportion of pay that should be saved: </p> <dl><dd>z<sup>prop</sup> = R <sup>repl</sup> (1 – ((1+i <sup>real</sup> )) <sup>−p</sup> )/i <sup>real</sup> / [(((1+i <sup>rel to pay</sup> )) <sup>w</sup> – 1)/i <sup>rel to pay</sup> + R <sup>repl</sup> (1 – ((1+i <sup>real</sup> )) <sup>−p</sup> )/i <sup>real</sup> ] (Ret-03)</dd></dl> <p>Note that the special case i <sup>rel to pay</sup> =0 = i <sup>real</sup> means that the geometric series should be summed by noting that there are p or w identical terms and hence z <sup>prop</sup> = p/(w+p). This corresponds to the graph above with the straight line real-terms accumulation. </p> <div class="mw-heading mw-heading3"><h3 id="Sample_results">Sample results</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=12" title="Edit section: Sample results"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The result for the necessary z<sup>prop</sup> given by (Ret-03) depends critically on the assumptions made. As an example, one might assume that price inflation will be 3.5% per year forever and that one's pay will increase only at that same rate of 3.5%. If a 4.5% per year nominal rate of interest is assumed, then (using 1.045/1.035 in <a href="/wiki/Real_versus_nominal_value_(economics)" class="mw-redirect" title="Real versus nominal value (economics)">real terms</a>) pre-retirement and post-retirement net interest rates will remain the same, i<sup>rel to pay</sup> = 0.966 percent per year and i<sup>real</sup> = 0.966 percent per year. These assumptions may be reasonable in view of the market returns available on <a href="/wiki/Inflation-indexed_bond" title="Inflation-indexed bond">inflation-indexed bonds</a>, after expenses and any tax. Equation (Ret-03) is readily coded in Excel and with these assumptions gives the required savings rates in the accompanying picture. </p> <div class="mw-heading mw-heading3"><h3 id="Monte_Carlo:_Better_allowance_for_randomness">Monte Carlo: Better allowance for randomness</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=13" title="Edit section: Monte Carlo: Better allowance for randomness"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Finally, a newer method for determining the adequacy of a retirement plan is <a href="/wiki/Monte_Carlo_simulation" class="mw-redirect" title="Monte Carlo simulation">Monte Carlo simulation</a>. This method has been gaining popularity and is now employed by many financial planners.<sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> Monte Carlo retirement calculators<sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> allow users to enter savings, income and expense information and run simulations of retirement scenarios. The simulation results show the probability that the retirement plan will be successful. </p> <div class="mw-heading mw-heading2"><h2 id="Early_retirement">Early retirement</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=14" title="Edit section: Early retirement"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/FIRE_movement" title="FIRE movement">FIRE movement</a></div> <p>Retirement is generally considered to be "early" if it occurs before the age (or tenure) needed for eligibility for support and funds from government or employer-provided sources. Early retirees typically rely on their own <a href="/wiki/Saving" title="Saving">savings</a> and investments to be self-supporting, either indefinitely or until they begin receiving external support. Early retirement can also be used as a euphemistic term for being terminated from employment before typical retirement age.<sup id="cite_ref-bogleheads_guide_58-0" class="reference"><a href="#cite_note-bogleheads_guide-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Savings_needed">Savings needed</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=15" title="Edit section: Savings needed"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/Withdrawal_rate" class="mw-redirect" title="Withdrawal rate">Withdrawal rate</a></div> <style data-mw-deduplicate="TemplateStyles:r1237032888/mw-parser-output/.tmulti">.mw-parser-output .tmulti .multiimageinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .tmulti .multiimageinner img{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .tmulti .multiimageinner img{background-color:white}}</style><div class="thumb tmulti tright"><div class="thumbinner multiimageinner" style="width:442px;max-width:442px"><div class="trow"><div class="tsingle" style="width:211px;max-width:211px"><div class="thumbimage" style="height:168px;overflow:hidden"><span typeof="mw:File"><a href="/wiki/File:Year-to-year_portfolio_balances_example_73-75.gif" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a2/Year-to-year_portfolio_balances_example_73-75.gif/209px-Year-to-year_portfolio_balances_example_73-75.gif" decoding="async" width="209" height="169" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a2/Year-to-year_portfolio_balances_example_73-75.gif/314px-Year-to-year_portfolio_balances_example_73-75.gif 1.5x, //upload.wikimedia.org/wikipedia/commons/a/a2/Year-to-year_portfolio_balances_example_73-75.gif 2x" data-file-width="379" data-file-height="306" /></a></span></div><div class="thumbcaption">Portfolio balances after taking $35,000 (and <a href="/wiki/Inflation_adjustment" class="mw-redirect" title="Inflation adjustment">adjusting for inflation</a>) from a $750,000 portfolio every year for 30 years, starting in 1973 (red line), 1974 (blue line), or 1975 (green line).<sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> Results depend heavily on what happens to the <a href="/wiki/Stock_market" title="Stock market">stock market</a> in the first few years.</div></div><div class="tsingle" style="width:227px;max-width:227px"><div class="thumbimage" style="height:168px;overflow:hidden"><span typeof="mw:File"><a href="/wiki/File:20200101_Remaining_life_expectancy_-_US.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/20200101_Remaining_life_expectancy_-_US.svg/225px-20200101_Remaining_life_expectancy_-_US.svg.png" decoding="async" width="225" height="169" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/20200101_Remaining_life_expectancy_-_US.svg/338px-20200101_Remaining_life_expectancy_-_US.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/da/20200101_Remaining_life_expectancy_-_US.svg/450px-20200101_Remaining_life_expectancy_-_US.svg.png 2x" data-file-width="1000" data-file-height="750" /></a></span></div><div class="thumbcaption"><i>Remaining</i> life expectancy—expected number of remaining years of life as a function of <i>current age</i>—is used in <a href="/wiki/Pension" title="Pension">retirement income</a> planning.<sup id="cite_ref-SocSecPeriodLifeExpectancy_2020_49-1" class="reference"><a href="#cite_note-SocSecPeriodLifeExpectancy_2020-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> Many will exceed their life expectancy, requiring income over a longer period.</div></div></div></div></div> <p>While <a href="/wiki/Conventional_wisdom" title="Conventional wisdom">conventional wisdom</a> has it<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Manual_of_Style/Words_to_watch#Unsupported_attributions" title="Wikipedia:Manual of Style/Words to watch"><span title="The material near this tag possibly uses too-vague attribution or weasel words. (February 2018)">who?</span></a></i>]</sup> that one can retire and take 7% or more out of a portfolio year after year, this strategy would not have worked very often in the past.<sup id="cite_ref-60" class="reference"><a href="#cite_note-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-61" class="reference"><a href="#cite_note-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup> </p><p>Those contemplating early retirement will want to know if they have enough to survive possible <a href="/wiki/Bear_market" class="mw-redirect" title="Bear market">bear markets</a>. The history of the US <a href="/wiki/Stock_market" title="Stock market">stock market</a> shows that one would need to live on about 4% of the initial portfolio per year to ensure that the portfolio is not depleted before the end of the retirement;<sup id="cite_ref-62" class="reference"><a href="#cite_note-62"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup> this rule of thumb is a summary of one conclusion of the <a href="/wiki/Trinity_study" title="Trinity study">Trinity study</a>, though the report is more nuanced and the conclusions and very approach have been heavily criticized (see <a href="/wiki/Trinity_study" title="Trinity study">Trinity study</a> for details). This allows for increasing the withdrawals with inflation to maintain a consistent spending ability throughout the retirement, and to continue making withdrawals even in dramatic and prolonged <a href="/wiki/Bear_market" class="mw-redirect" title="Bear market">bear markets</a>.<sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup> (The 4% figure does not assume any pension or change in spending levels throughout the retirement.) </p><p>When retiring prior to age <style data-mw-deduplicate="TemplateStyles:r1154941027">.mw-parser-output .frac{white-space:nowrap}.mw-parser-output .frac .num,.mw-parser-output .frac .den{font-size:80%;line-height:0;vertical-align:super}.mw-parser-output .frac .den{vertical-align:sub}.mw-parser-output .sr-only{border:0;clip:rect(0,0,0,0);clip-path:polygon(0px 0px,0px 0px,0px 0px);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px}</style><span class="frac">59<span class="sr-only">+</span><span class="num">1</span>⁄<span class="den">2</span></span>, there is a 10% IRS penalty on withdrawals from a retirement plan such as a 401(k) plan or a Traditional IRA. Exceptions apply under certain circumstances. At age 59 and six months, the penalty-free status is achieved and the 10% IRS penalty no longer applies. </p><p>To avoid the 10% penalty prior to age <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1154941027"><span class="frac">59<span class="sr-only">+</span><span class="num">1</span>⁄<span class="den">2</span></span>, a person should consult a lawyer about the use of IRS rule 72 T. This rule must be applied for with the IRS. It allows the distribution of an IRA account prior to age <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1154941027"><span class="frac">59<span class="sr-only">+</span><span class="num">1</span>⁄<span class="den">2</span></span> in equal amounts of a period of either 5 years or until the age of <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1154941027"><span class="frac">59<span class="sr-only">+</span><span class="num">1</span>⁄<span class="den">2</span></span>, whichever is the longest time period, without a 10% penalty. Taxes still must be paid on the distributions. </p> <div class="mw-heading mw-heading3"><h3 id="Calculations_using_actual_numbers">Calculations using actual numbers</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=16" title="Edit section: Calculations using actual numbers"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Although the 4% initial portfolio <a href="/wiki/Withdrawal_rate" class="mw-redirect" title="Withdrawal rate">withdrawal rate</a> described above can be used as a rough gauge, it is often desirable to use a retirement planning tool that accepts detailed input and can render a result that has more precision. Some of these tools model only the retirement phase of the plan while others can model both the savings or accumulation phase as well as the retirement phase of the plan. For example, an analysis by <i><a href="/wiki/Forbes" title="Forbes">Forbes</a></i> reckoned that in 90% of historical markets, a 4% rate would have lasted for at least 30 years, while in 50% of the historical markets, a 4% rate would have been sustained for more than 40 years.<sup id="cite_ref-64" class="reference"><a href="#cite_note-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup> </p><p>The effects of making inflation-adjusted withdrawals from a given starting portfolio can be modeled with a downloadable spreadsheet<sup id="cite_ref-65" class="reference"><a href="#cite_note-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> that uses historical stock market data to estimate likely portfolio returns. Another approach is to employ a retirement calculator<sup id="cite_ref-66" class="reference"><a href="#cite_note-66"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup> that also uses historical stock market modeling, but adds provisions for incorporating pensions, other retirement income, and changes in spending that may occur during the course of the retirement.<sup id="cite_ref-67" class="reference"><a href="#cite_note-67"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Life_after_retirement">Life after retirement</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=17" title="Edit section: Life after retirement"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Retiree" class="mw-redirect" title="Retiree">Retiree</a></div> <p>Retirement might coincide with important life changes; a retired worker might move to a new location, for example a <a href="/wiki/Retirement_community" title="Retirement community">retirement community</a>, thereby having less frequent contact with their previous social context and adopting a new lifestyle. Often retirees <a href="/wiki/Volunteering" title="Volunteering">volunteer</a> for charities and other community organizations. Tourism is a common marker of retirement and for some becomes a way of life, such as for so-called <a href="/wiki/Tourism#Grey_nomads" title="Tourism">grey nomads</a>. Some retired people even choose to go and live in warmer climates in what is known as retirement migration. </p><p>It has been found that Americans have six lifestyle choices as they age: continuing to work full-time, continuing to work part-time, retiring from work and becoming engaged in a variety of leisure activities, retiring from work and becoming involved in a variety of recreational and leisure activities, retiring from work and later returning to work part-time, and retiring from work and later returning to work full-time.<sup id="cite_ref-auto1_68-0" class="reference"><a href="#cite_note-auto1-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> An important note to make from these lifestyle definitions are that four of the six involve working. America is facing an important demographic change in that the Baby Boomer generation is now reaching retirement age. This poses two challenges: whether there will be a sufficient number of skilled workers in the work force, and whether the current pension programs will be sufficient to support the growing number of retired people.<sup id="cite_ref-69" class="reference"><a href="#cite_note-69"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup> The reasons that some people choose to never retire, or to return to work after retiring include not only the difficulty of planning for retirement but also wages and fringe benefits, expenditure of physical and mental energy, production of goods and services, social interaction, and social status may interact to influence an individual's work force participation decision.<sup id="cite_ref-auto1_68-1" class="reference"><a href="#cite_note-auto1-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> </p><p>Often retirees are called upon to care for <a href="/wiki/Grandchildren" class="mw-redirect" title="Grandchildren">grandchildren</a> and occasionally aged parents. For many it gives them more time to devote to a <a href="/wiki/Hobby" title="Hobby">hobby</a> or <a href="/wiki/Sport" title="Sport">sport</a> such as <a href="/wiki/Golf" title="Golf">golf</a> or <a href="/wiki/Sailing" title="Sailing">sailing</a>. </p><p>On the other hand, many retirees feel restless and suffer from depression as a result of their new situation. The newly retired are one of the most vulnerable social groups to become depressed most likely due to retirement coinciding with a deteriorating health status and increased care-giving responsibilities.<sup id="cite_ref-70" class="reference"><a href="#cite_note-70"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup> Retirement coincides with deterioration of one's health that correlates with increasing age and this likely plays a major role in increased rates of depression in retirees. Longitudinal and cross-sectional studies have shown that healthy elderly and retired people are as happy or happier and have an equal quality of life as they age as compared to younger employed adults, therefore retirement in and of itself is not likely to contribute to development of depression. Research around what retirees would ideally like to have a fulfilling life after retiring, found the most important factors were "physical comfort, social integration, contribution, security, autonomy and enjoyment".<sup id="cite_ref-71" class="reference"><a href="#cite_note-71"><span class="cite-bracket">[</span>71<span class="cite-bracket">]</span></a></sup> </p><p>Many people in the later years of their lives, due to failing health, require assistance, sometimes in extremely expensive treatments – in some countries – being provided in a <a href="/wiki/Nursing_home" title="Nursing home">nursing home</a>. Those who need care, but are not in need of constant assistance, may choose to live in a <a href="/wiki/Retirement_home" title="Retirement home">retirement home</a>. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=18" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Wikivoyage-Logo-v3-icon.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Wikivoyage-Logo-v3-icon.svg/40px-Wikivoyage-Logo-v3-icon.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Wikivoyage-Logo-v3-icon.svg/60px-Wikivoyage-Logo-v3-icon.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Wikivoyage-Logo-v3-icon.svg/80px-Wikivoyage-Logo-v3-icon.svg.png 2x" data-file-width="193" data-file-height="193" /></a></span></div> <div class="side-box-text plainlist">Wikivoyage has a travel guide for <i><b><a href="https://en.wikivoyage.org/wiki/Retiring_abroad#Q946865" class="extiw" title="wikivoyage:Retiring abroad">Retiring abroad</a></b></i>.</div></div> </div> <ul><li><a href="/wiki/Simple_living" title="Simple living">Simple living</a></li> <li><a href="/wiki/Downshifting_(lifestyle)" title="Downshifting (lifestyle)">Downshifting (lifestyle)</a></li> <li><a href="/wiki/Pension" title="Pension">Pension</a></li> <li><a href="/wiki/Ageing" title="Ageing">Ageing</a></li> <li><a href="/wiki/Mandatory_retirement" title="Mandatory retirement">Mandatory retirement</a></li> <li><a href="/wiki/Gerontology" title="Gerontology">Gerontology</a></li> <li><a href="/wiki/Social_security" class="mw-redirect" title="Social security">Social security</a></li> <li><a href="/wiki/Parental_dividend" title="Parental dividend">Parental dividend</a></li> <li><a href="/wiki/Retirement_spend_down" class="mw-redirect" title="Retirement spend down">Retirement spend down</a></li> <li><a href="/wiki/Asset/liability_modeling" title="Asset/liability modeling">Asset/liability modeling</a></li> <li><a href="/wiki/Issues_in_retirement_security" title="Issues in retirement security">Issues in retirement security</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=19" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width" style="column-width: 30em;"> <ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text">"Definition of retirement" <a rel="nofollow" class="external text" href="https://www.merriam-webster.com/dictionary/retirement">Merriam Websters</a></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text">For example, in the United States, a person holding the rank of general or admiral must retire after 40 years of service unless he or she is reappointed to serve longer. (<a rel="nofollow" class="external text" href="http://caselaw.lp.findlaw.com/casecode/uscodes/10/subtitles/a/parts/ii/chapters/36/subchapters/iii/sections/section_636.html">10 USC 636</a> Retirement for years of service: regular officers in grades above brigadier general and rear admiral (lower half))</span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text">"The German Precedent" <a rel="nofollow" class="external text" href="http://www.ssa.gov/history/age65.html">Social Security History, US Social Security Administration</a></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://cdn.zopa.com/pressrelease/2014/britons_opt_for_pretirement_overtotal_retirement.pdf">"Britons opt for Pre-tirement over Total Retirement"</a> <span class="cs1-format">(PDF)</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Britons+opt+for+Pre-tirement+over+Total+Retirement&rft_id=http%3A%2F%2Fcdn.zopa.com%2Fpressrelease%2F2014%2Fbritons_opt_for_pretirement_overtotal_retirement.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></span> </li> <li id="cite_note-Galor&Moav2007-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-Galor&Moav2007_5-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGalor,_OdedMoav,_Omer2007" class="citation web cs1">Galor, Oded; Moav, Omer (2007). <a rel="nofollow" class="external text" href="http://www.brown.edu/academics/economics/sites/brown.edu.academics.economics/files/uploads/2007-14_paper.pdf">"The Neolithic Revolution and Contemporary Variations in Life Expectancy"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Brown_University" title="Brown University">Brown University</a> Working Paper</i><span class="reference-accessdate">. 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Retrieved <span class="nowrap">16 January</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=dallasnews.com&rft.atitle=Dallas+News%3A+Breaking+News+for+DFW%2C+Texas%2C+World&rft_id=http%3A%2F%2Fwww.dallasnews.com%2Fs%2Fdws%2Fbus%2Fscottburns%2Fcolumns%2Farchives%2F1995%2F951003TU.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></span> </li> <li id="cite_note-62"><span class="mw-cite-backlink"><b><a href="#cite_ref-62">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.dallasnews.com/s/dws/bus/scottburns/readers/trinitystudy/table3.html">"Dallas News: Breaking News for DFW, Texas, World"</a>. <i>dallasnews.com</i><span class="reference-accessdate">. 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Retrieved <span class="nowrap">16 January</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=retireearlyhomepage.com&rft.atitle=Retire+Early%27s+Safe+Withdrawal+Rates+in+Retirement.&rft_id=http%3A%2F%2Fretireearlyhomepage.com%2Fsafesum.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></span> </li> <li id="cite_note-64"><span class="mw-cite-backlink"><b><a href="#cite_ref-64">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20150306230311/http://www.forbes.com/sites/fidelity/2015/03/04/five-ways-to-protect-your-retirement-income/">"Five Ways To Protect Your Retirement Income"</a>. <i><a href="/wiki/Forbes" title="Forbes">Forbes</a></i>. 4 March 2015. Archived from <a rel="nofollow" class="external text" href="https://www.forbes.com/sites/fidelity/2015/03/04/five-ways-to-protect-your-retirement-income/">the original</a> on 6 March 2015<span class="reference-accessdate">. Retrieved <span class="nowrap">9 March</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Forbes&rft.atitle=Five+Ways+To+Protect+Your+Retirement+Income&rft.date=2015-03-04&rft_id=https%3A%2F%2Fwww.forbes.com%2Fsites%2Ffidelity%2F2015%2F03%2F04%2Ffive-ways-to-protect-your-retirement-income%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></span> </li> <li id="cite_note-65"><span class="mw-cite-backlink"><b><a href="#cite_ref-65">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external free" href="http://retireearlyhomepage.com/re60.html">http://retireearlyhomepage.com/re60.html</a> downloadable spreadsheet</span> </li> <li id="cite_note-66"><span class="mw-cite-backlink"><b><a href="#cite_ref-66">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://firecalc.com">FIRECalc: A different kind of retirement calculator</a>.</span> </li> <li id="cite_note-67"><span class="mw-cite-backlink"><b><a href="#cite_ref-67">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.nesteggly.com/retirement-calculator">"The Ultimate Retirement Calculator"</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Ultimate+Retirement+Calculator&rft_id=https%3A%2F%2Fwww.nesteggly.com%2Fretirement-calculator&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span> retirement calculator that incorporates inflation, pensions and social security</span> </li> <li id="cite_note-auto1-68"><span class="mw-cite-backlink">^ <a href="#cite_ref-auto1_68-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-auto1_68-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Cox, H. (2012). Work/retirement choices and lifestyle patterns of older Americans. In L. Loeppke (Ed.), Annual editions: Aging (24th ed., pp. 74–83). New York, NY: McGraw-Hill</span> </li> <li id="cite_note-69"><span class="mw-cite-backlink"><b><a href="#cite_ref-69">^</a></b></span> <span class="reference-text">Hardy, M. (2006). Older workers. In R. Binstock & L. George (Eds.), Handbook of aging and the social sciences (6th ed., pp. 201–218). Boston, MA: Academic Press</span> </li> <li id="cite_note-70"><span class="mw-cite-backlink"><b><a href="#cite_ref-70">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLeeSmith2009" class="citation journal cs1">Lee, Jinkook; Smith, James P. (1 June 2009). <a rel="nofollow" class="external text" href="https://doi.org/10.1007/s12062-010-9018-0">"Work, Retirement, and Depression"</a>. <i>Journal of Population Ageing</i>. <b>2</b> (1): 57–71. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2Fs12062-010-9018-0">10.1007/s12062-010-9018-0</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/1874-7876">1874-7876</a>. <a href="/wiki/PMC_(identifier)" class="mw-redirect" title="PMC (identifier)">PMC</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3655414">3655414</a></span>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/23687521">23687521</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Population+Ageing&rft.atitle=Work%2C+Retirement%2C+and+Depression&rft.volume=2&rft.issue=1&rft.pages=57-71&rft.date=2009-06-01&rft_id=https%3A%2F%2Fwww.ncbi.nlm.nih.gov%2Fpmc%2Farticles%2FPMC3655414%23id-name%3DPMC&rft.issn=1874-7876&rft_id=info%3Apmid%2F23687521&rft_id=info%3Adoi%2F10.1007%2Fs12062-010-9018-0&rft.aulast=Lee&rft.aufirst=Jinkook&rft.au=Smith%2C+James+P.&rft_id=https%3A%2F%2Fdoi.org%2F10.1007%2Fs12062-010-9018-0&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></span> </li> <li id="cite_note-71"><span class="mw-cite-backlink"><b><a href="#cite_ref-71">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStephensBrehenyMansvelt2015" class="citation journal cs1">Stephens, Christine; Breheny, Mary; <a href="/wiki/Juliana_Mansvelt" title="Juliana Mansvelt">Mansvelt, Juliana</a> (3 June 2015). <a rel="nofollow" class="external text" href="https://doi.org/10.1080/08870446.2014.904862">"Healthy ageing from the perspective of older people: A capability approach to resilience"</a>. <i>Psychology & Health</i>. <b>30</b> (6): 715–731. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F08870446.2014.904862">10.1080/08870446.2014.904862</a>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0887-0446">0887-0446</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/24678916">24678916</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:24424011">24424011</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Psychology+%26+Health&rft.atitle=Healthy+ageing+from+the+perspective+of+older+people%3A+A+capability+approach+to+resilience&rft.volume=30&rft.issue=6&rft.pages=715-731&rft.date=2015-06-03&rft.issn=0887-0446&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A24424011%23id-name%3DS2CID&rft_id=info%3Apmid%2F24678916&rft_id=info%3Adoi%2F10.1080%2F08870446.2014.904862&rft.aulast=Stephens&rft.aufirst=Christine&rft.au=Breheny%2C+Mary&rft.au=Mansvelt%2C+Juliana&rft_id=https%3A%2F%2Fdoi.org%2F10.1080%2F08870446.2014.904862&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=20" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Schultz, Ellen E., <a rel="nofollow" class="external text" href="https://archive.org/details/retirementheisth0000schu"><i>RETIREMENT HEIST: How Companies Plunder and Profit from the Nest Eggs of American Workers"</i></a><i>, Penguin Publishing, 2011</i></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRobert_A._Stebbins2013" class="citation book cs1">Robert A. Stebbins (2013). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=eTrUAAAAQBAJ"><i>Planning Your Time in Retirement: How to Cultivate a Leisure Lifestyle to Suit Your Needs and Interests</i></a>. Lanham, MD: Rowman & Littlefield Publishers. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4422-2160-4" title="Special:BookSources/978-1-4422-2160-4"><bdi>978-1-4422-2160-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Planning+Your+Time+in+Retirement%3A+How+to+Cultivate+a+Leisure+Lifestyle+to+Suit+Your+Needs+and+Interests&rft.place=Lanham%2C+MD&rft.pub=Rowman+%26+Littlefield+Publishers&rft.date=2013&rft.isbn=978-1-4422-2160-4&rft.au=Robert+A.+Stebbins&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DeTrUAAAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJamie_P._HopkinsDavid_A._LittellKenn_Beam_Tacchino2015" class="citation book cs1">Jamie P. Hopkins; David A. Littell; Kenn Beam Tacchino (July 2015). <a rel="nofollow" class="external text" href="https://books.google.com/books?id=cAkXrgEACAAJ"><i>Planning for Retirement Needs, Thirteenth Edition</i></a>. American College. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-58293-230-9" title="Special:BookSources/978-1-58293-230-9"><bdi>978-1-58293-230-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Planning+for+Retirement+Needs%2C+Thirteenth+Edition&rft.pub=American+College&rft.date=2015-07&rft.isbn=978-1-58293-230-9&rft.au=Jamie+P.+Hopkins&rft.au=David+A.+Littell&rft.au=Kenn+Beam+Tacchino&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3DcAkXrgEACAAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3ARetirement" class="Z3988"></span></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Retirement&action=edit&section=21" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1235681985"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1237033735"><div class="side-box side-box-right plainlinks sistersitebox"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Wikivoyage-Logo-v3-icon.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Wikivoyage-Logo-v3-icon.svg/40px-Wikivoyage-Logo-v3-icon.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Wikivoyage-Logo-v3-icon.svg/60px-Wikivoyage-Logo-v3-icon.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Wikivoyage-Logo-v3-icon.svg/80px-Wikivoyage-Logo-v3-icon.svg.png 2x" data-file-width="193" data-file-height="193" /></a></span></div> <div class="side-box-text plainlist">Wikivoyage has a travel guide for <i><b><a href="https://en.wikivoyage.org/wiki/Retiring_abroad#Q946865" class="extiw" title="wikivoyage:Retiring abroad">Retiring abroad</a></b></i>.</div></div> </div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1235681985"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1237033735"><div class="side-box side-box-right plainlinks sistersitebox"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1126788409"> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Wikiquote-logo.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/34px-Wikiquote-logo.svg.png" decoding="async" width="34" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/51px-Wikiquote-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/68px-Wikiquote-logo.svg.png 2x" data-file-width="300" data-file-height="355" /></a></span></div> <div class="side-box-text plainlist">Wikiquote has quotations related to <i><b><a href="https://en.wikiquote.org/wiki/Special:Search/Retirement" class="extiw" title="q:Special:Search/Retirement">Retirement</a></b></i>.</div></div> </div> <ul><li><a rel="nofollow" class="external text" href="http://www.ssa.gov/history/pdf/histdev.pdf">"Historical Development"</a>, <a href="/wiki/Social_Security_Administration" title="Social Security Administration">Social Security Administration</a></li> <li>Short, Joanna, <a rel="nofollow" class="external text" href="https://web.archive.org/web/20060113114540/http://www.eh.net/encyclopedia/article/short.retirement.history.us">"Economic History of Retirement in the U.S."</a>, 2010-02-01, <a href="/wiki/Augustana_College_(Illinois)" title="Augustana College (Illinois)">Augustana College</a>, Rock Island, Illinois</li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output 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dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style></div><div role="navigation" class="navbox" aria-labelledby="Employment" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Employment" title="Template:Employment"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Employment" title="Template talk:Employment"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Employment" title="Special:EditPage/Template:Employment"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Employment" style="font-size:114%;margin:0 4em"><a href="/wiki/Employment" title="Employment">Employment</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Classifications</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Academic_tenure" title="Academic tenure">Academic tenure</a></li> <li><a href="/wiki/Casual_employment_(contract)" title="Casual employment (contract)">Casual</a></li> <li><a href="/wiki/Contingent_work" title="Contingent work">Contingent work</a></li> <li><a href="/wiki/Full-time_job" title="Full-time job">Full-time job</a></li> <li><a href="/wiki/Gig_worker" title="Gig worker">Gig worker</a></li> <li><a href="/wiki/Job_sharing" title="Job sharing">Job sharing</a></li> <li><a href="/wiki/Part-time_job" title="Part-time job">Part-time job</a></li> <li><a href="/wiki/Self-employment" title="Self-employment">Self-employment</a></li> <li><a href="/wiki/Side_job" title="Side job">Side job</a></li> <li><a href="/wiki/Skilled_worker" title="Skilled worker">Skilled worker</a> <ul><li><a href="/wiki/Journeyman" title="Journeyman">Journeyman</a></li> <li><a href="/wiki/Technician" title="Technician">Technician</a></li> <li><a href="/wiki/Tradesperson" title="Tradesperson">Tradesperson</a></li></ul></li> <li><a href="/wiki/Independent_contractor" class="mw-redirect" title="Independent contractor">Independent contractor</a></li> <li><a href="/wiki/Labour_hire" title="Labour hire">Labour hire</a></li> <li><a href="/wiki/Temporary_work" title="Temporary work">Temporary work</a></li> <li><a href="/wiki/Laborer" title="Laborer">Laborer</a></li> <li><a href="/wiki/Wage_labour" title="Wage labour">Wage labour</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Recruitment" title="Recruitment">Hiring</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Application_for_employment" title="Application for employment">Application</a></li> <li><a href="/wiki/Background_check" title="Background check">Background check</a></li> <li><a href="/wiki/Business_networking" title="Business networking">Business networking</a></li> <li><a href="/wiki/Cover_letter" title="Cover letter">Cover letter</a></li> <li><a href="/wiki/Curriculum_vitae" title="Curriculum vitae">Curriculum vitae</a></li> <li><a href="/wiki/Drug_test" title="Drug test">Drug testing</a></li> <li><a href="/wiki/Employment_contract" title="Employment contract">Employment contract</a></li> <li><a href="/wiki/Employment_counsellor" class="mw-redirect" title="Employment counsellor">Employment counsellor</a></li> <li><a href="/wiki/Executive_search" title="Executive search">Executive search</a> <ul><li><a href="/wiki/List_of_executive_search_firms" title="List of executive search firms">list</a></li></ul></li> <li><a href="/wiki/Induction_programme" title="Induction programme">Induction programme</a></li> <li><a href="/wiki/Job_fair" title="Job fair">Job fair</a></li> <li><a href="/wiki/Job_fraud" title="Job fraud">Job fraud</a></li> <li><a href="/wiki/Job_hunting" title="Job hunting">Job hunting</a></li> <li><a href="/wiki/Job_interview" title="Job interview">Job interview</a></li> <li><a href="/wiki/Letter_of_recommendation" title="Letter of recommendation">Letter of recommendation</a></li> <li><a href="/wiki/Onboarding" title="Onboarding">Onboarding</a></li> <li><a href="/wiki/Overqualification" title="Overqualification">Overqualification</a></li> <li><a href="/wiki/Person%E2%80%93environment_fit" title="Person–environment fit">Person–environment fit</a></li> <li><a href="/wiki/Personality%E2%80%93job_fit_theory" title="Personality–job fit theory">Personality–job fit theory</a></li> <li><a href="/wiki/Personality_hire" title="Personality hire">Personality hire</a></li> <li><a href="/wiki/Probation_(workplace)" title="Probation (workplace)">Probation</a></li> <li><a href="/wiki/Recruitment" title="Recruitment">Recruitment</a></li> <li><a href="/wiki/R%C3%A9sum%C3%A9" title="Résumé">Résumé</a></li> <li><a href="/wiki/Simultaneous_recruiting_of_new_graduates" title="Simultaneous recruiting of new graduates">Simultaneous recruiting of new graduates</a></li> <li><a href="/wiki/Underemployment" title="Underemployment">Underemployment</a></li> <li><a href="/wiki/Work-at-home_scheme" title="Work-at-home scheme">Work-at-home scheme</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Roles</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Employee" class="mw-redirect" title="Employee">Employee</a></li> <li><a href="/wiki/Employer" class="mw-redirect" title="Employer">Employer</a></li> <li><a href="/wiki/Internship" title="Internship">Internship</a></li> <li><a href="/wiki/Job" class="mw-redirect" title="Job">Job</a></li> <li><a href="/wiki/Labour_hire" title="Labour hire">Labour hire</a></li> <li><a href="/wiki/Permanent_employment" title="Permanent employment">Permanent employment</a></li> <li><a href="/wiki/Supervisor" title="Supervisor">Supervisor</a></li> <li><a href="/wiki/Volunteering" title="Volunteering">Volunteering</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Social_class" title="Social class">Working class</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Blue-collar_worker" title="Blue-collar worker">Blue-collar</a></li> <li><a href="/wiki/Green-collar_worker" title="Green-collar worker">Green-collar</a></li> <li><a href="/wiki/Grey-collar" title="Grey-collar">Grey-collar</a></li> <li><a href="/wiki/Pink-collar_worker" title="Pink-collar worker">Pink-collar</a></li> <li><a href="/wiki/Precariat" title="Precariat">Precariat</a></li> <li><a href="/wiki/White-collar_worker" title="White-collar worker">White-collar</a></li> <li><a href="/wiki/Designation_of_workers_by_collar_color" title="Designation of workers by collar color">Red-collar</a></li> <li><a href="/wiki/New-collar_worker" title="New-collar worker">New-collar</a></li> <li><a href="/wiki/Designation_of_workers_by_collar_color" title="Designation of workers by collar color">No-collar</a></li> <li><a href="/wiki/Designation_of_workers_by_collar_color" title="Designation of workers by collar color">Orange-collar</a></li> <li><a href="/wiki/Designation_of_workers_by_collar_color" title="Designation of workers by collar color">Scarlet-collar</a></li> <li><a href="/wiki/Designation_of_workers_by_collar_color" title="Designation of workers by collar color">Black-collar</a></li> <li><a href="/wiki/Designation_of_workers_by_collar_color" title="Designation of workers by collar color">Gold-collar</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Career" title="Career">Career</a> and <a href="/wiki/Training" title="Training">training</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Apprenticeship" title="Apprenticeship">Apprenticeship</a></li> <li><a href="/wiki/Artisan" title="Artisan">Artisan</a> <ul><li><a href="/wiki/Master_craftsman" title="Master craftsman">Master craftsman</a></li></ul></li> <li><a href="/wiki/Avocation" title="Avocation">Avocation</a></li> <li><a href="/wiki/Career_assessment" title="Career assessment">Career assessment</a></li> <li><a href="/wiki/Career_counseling" title="Career counseling">Career counseling</a></li> <li><a href="/wiki/Career_development" title="Career development">Career development</a></li> <li><a href="/wiki/Coaching" title="Coaching">Coaching</a></li> <li><a href="/wiki/Creative_class" title="Creative class">Creative class</a></li> <li><a href="/wiki/Education" title="Education">Education</a> <ul><li><a href="/wiki/Continuing_education" title="Continuing education">Continuing education</a></li> <li><a href="/wiki/E-learning" class="mw-redirect" title="E-learning">E-learning</a></li> <li><a href="/wiki/Employability" title="Employability">Employability</a></li> <li><a href="/wiki/Further_education" title="Further education">Further education</a></li> <li><a href="/wiki/Graduate_school" class="mw-redirect" title="Graduate school">Graduate school</a></li> <li><a href="/wiki/Induction_training" title="Induction training">Induction training</a></li> <li><a href="/wiki/Knowledge_worker" title="Knowledge worker">Knowledge worker</a></li> <li><a href="/wiki/Licensure" class="mw-redirect" title="Licensure">Licensure</a></li> <li><a href="/wiki/Lifelong_learning" title="Lifelong learning">Lifelong learning</a></li> <li><a href="/wiki/Overspecialization" title="Overspecialization">Overspecialization</a></li> <li><a href="/wiki/Practice-based_professional_learning" title="Practice-based professional learning">Practice-based professional learning</a></li> <li><a href="/wiki/Professional_association" title="Professional association">Professional association</a></li> <li><a href="/wiki/Professional_certification" title="Professional certification">Professional certification</a></li> <li><a href="/wiki/Professional_development" title="Professional development">Professional development</a></li> <li><a href="/wiki/Professional_school" class="mw-redirect" title="Professional school">Professional school</a></li> <li><a href="/wiki/Reflective_practice" title="Reflective practice">Reflective practice</a></li> <li><a href="/wiki/Retraining" title="Retraining">Retraining</a></li> <li><a href="/wiki/Vocational_education" title="Vocational education">Vocational education</a></li> <li><a href="/wiki/Vocational_school" title="Vocational school">Vocational school</a></li> <li><a href="/wiki/Vocational_university" title="Vocational university">Vocational university</a></li></ul></li> <li><a href="/wiki/Mentorship" title="Mentorship">Mentorship</a></li> <li><a href="/wiki/Occupational_Outlook_Handbook" title="Occupational Outlook Handbook">Occupational Outlook Handbook</a></li> <li><a href="/wiki/Practice_firm" title="Practice firm">Practice firm</a></li> <li><a href="/wiki/Profession" title="Profession">Profession</a> <ul><li><a href="/wiki/Operator_(profession)" title="Operator (profession)">Operator</a></li> <li><a href="/wiki/Professional" title="Professional">Professional</a></li></ul></li> <li><a href="/wiki/Tradesman" class="mw-redirect" title="Tradesman">Tradesman</a></li> <li><a href="/wiki/Vocation" title="Vocation">Vocation</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Attendance</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Break_(work)" title="Break (work)">Break</a></li> <li><a href="/wiki/Break_room" title="Break room">Break room</a></li> <li><a href="/wiki/Career_break" title="Career break">Career break</a></li> <li><a href="/wiki/Furlough" title="Furlough">Furlough</a></li> <li><a href="/wiki/Gap_year" title="Gap year">Gap year</a></li> <li><a href="/wiki/Leave_of_absence" title="Leave of absence">Leave of absence</a></li> <li><a href="/wiki/Long_service_leave" title="Long service leave">Long service leave</a></li> <li><a href="/wiki/No_call,_no_show" title="No call, no show">No call, no show</a></li> <li><a href="/wiki/Sabbatical" title="Sabbatical">Sabbatical</a></li> <li><a href="/wiki/Sick_leave" title="Sick leave">Sick leave</a></li> <li><a href="/wiki/Time_clock" title="Time clock">Time clock</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Schedule_(workplace)" title="Schedule (workplace)">Schedules</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/35-hour_workweek" title="35-hour workweek">35-hour workweek</a></li> <li><a href="/wiki/Four-day_week" class="mw-redirect" title="Four-day week">Four-day week</a></li> <li><a href="/wiki/Eight-hour_day" class="mw-redirect" title="Eight-hour day">Eight-hour day</a></li> <li><a href="/wiki/996_working_hour_system" title="996 working hour system">996 working hour system</a></li> <li><a href="/wiki/Flextime" title="Flextime">Flextime</a></li> <li><a href="/wiki/On-call" class="mw-redirect" title="On-call">On-call</a></li> <li><a href="/wiki/Overtime" title="Overtime">Overtime</a></li> <li><a href="/wiki/Remote_work" title="Remote work">Remote work</a></li> <li><a href="/wiki/Six-hour_day" title="Six-hour day">Six-hour day</a></li> <li><a href="/wiki/Shift_work" title="Shift work">Shift work</a></li> <li><a href="/wiki/Working_time" title="Working time">Working time</a></li> <li><a href="/wiki/Workweek_and_weekend" title="Workweek and weekend">Workweek and weekend</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Wage" title="Wage">Wages</a> and <a href="/wiki/Salary" title="Salary">salaries</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Income_bracket" title="Income bracket">Income bracket</a></li> <li><a href="/wiki/Income_tax" title="Income tax">Income tax</a></li> <li><a href="/wiki/Living_wage" title="Living wage">Living wage</a></li> <li><a href="/wiki/Maximum_wage" title="Maximum wage">Maximum wage</a></li> <li><a href="/wiki/National_average_salary" title="National average salary">National average salary</a> <ul><li><a href="/wiki/List_of_countries_by_average_wage" title="List of countries by average wage">World</a></li> <li><a href="/wiki/List_of_European_countries_by_average_wage" title="List of European countries by average wage">Europe</a></li></ul></li> <li><a href="/wiki/Minimum_wage" title="Minimum wage">Minimum wage</a> <ul><li><a href="/wiki/Minimum_wage_in_Canada" title="Minimum wage in Canada">Canada</a></li> <li><a href="/wiki/Minimum_Wage_Ordinance" title="Minimum Wage Ordinance">Hong Kong</a></li> <li><a href="/wiki/List_of_European_countries_by_minimum_wage" title="List of European countries by minimum wage">Europe</a></li> <li><a href="/wiki/Minimum_wage_in_the_United_States" title="Minimum wage in the United States">United States</a></li></ul></li> <li><a href="/wiki/Progressive_wage" title="Progressive wage">Progressive wage</a> <ul><li><a href="/wiki/Progressive_wage" title="Progressive wage">Singapore</a></li></ul></li> <li><a href="/wiki/Overtime_rate" title="Overtime rate">Overtime rate</a></li> <li><a href="/wiki/Paid_time_off" title="Paid time off">Paid time off</a></li> <li><a href="/wiki/Performance-related_pay" title="Performance-related pay">Performance-related pay</a></li> <li><a href="/wiki/Salary_cap" title="Salary cap">Salary cap</a></li> <li><a href="/wiki/Wage_compression" title="Wage compression">Wage compression</a></li> <li><a href="/wiki/Working_poor" title="Working poor">Working poor</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Employee_benefits" title="Employee benefits">Benefits</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Annual_leave" title="Annual leave">Annual leave</a></li> <li><a href="/wiki/Casual_Friday" title="Casual Friday">Casual Friday</a></li> <li><a href="/wiki/Child_care" title="Child care">Child care</a></li> <li><a href="/wiki/Disability_insurance" title="Disability insurance">Disability insurance</a></li> <li><a href="/wiki/Health_insurance" title="Health insurance">Health insurance</a></li> <li><a href="/wiki/Life_insurance" title="Life insurance">Life insurance</a></li> <li><a href="/wiki/Marriage_leave" title="Marriage leave">Marriage leave</a></li> <li><a href="/wiki/Parental_leave" title="Parental leave">Parental leave</a></li> <li><a href="/wiki/Pension" title="Pension">Pension</a></li> <li><a href="/wiki/Sick_leave" title="Sick leave">Sick leave</a> <ul><li><a href="/wiki/Sick_leave_in_the_United_States" title="Sick leave in the United States">United States</a></li></ul></li> <li><a href="/wiki/Take-home_vehicle" title="Take-home vehicle">Take-home vehicle</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Occupational_safety_and_health" title="Occupational safety and health">Safety and health</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Crunch_(video_games)" title="Crunch (video games)">Crunch</a></li> <li><a href="/wiki/Epilepsy_and_employment" title="Epilepsy and employment">Epilepsy and employment</a></li> <li><a href="/wiki/Human_factors_and_ergonomics" class="mw-redirect" title="Human factors and ergonomics">Human factors and ergonomics</a></li> <li><a href="/wiki/Karoshi" title="Karoshi">Karoshi</a></li> <li><a href="/wiki/List_of_countries_by_rate_of_fatal_workplace_accidents" title="List of countries by rate of fatal workplace accidents">List of countries by rate of fatal workplace accidents</a></li> <li><a href="/wiki/Occupational_burnout" title="Occupational burnout">Occupational burnout</a></li> <li><a href="/wiki/Occupational_disease" title="Occupational disease">Occupational disease</a></li> <li><a href="/wiki/Occupational_exposure_limit" title="Occupational exposure limit">Occupational exposure limit</a></li> <li><a href="/wiki/Occupational_health_psychology" title="Occupational health psychology">Occupational health psychology</a></li> <li><a href="/wiki/Occupational_injury" title="Occupational injury">Occupational injury</a></li> <li><a href="/wiki/Occupational_noise" title="Occupational noise">Occupational noise</a></li> <li><a href="/wiki/Occupational_stress" title="Occupational stress">Occupational stress</a></li> <li><a href="/wiki/Personal_protective_equipment" title="Personal protective equipment">Personal protective equipment</a></li> <li><a href="/wiki/Repetitive_strain_injury" title="Repetitive strain injury">Repetitive strain injury</a></li> <li><a href="/wiki/Right_to_sit" title="Right to sit">Right to sit</a> <ul><li><a href="/wiki/Right_to_sit_in_the_United_States" title="Right to sit in the United States">United States</a></li></ul></li> <li><a href="/wiki/Sick_building_syndrome" title="Sick building syndrome">Sick building syndrome</a></li> <li><a href="/wiki/Work_accident" title="Work accident">Work accident</a> <ul><li><a href="/wiki/Occupational_fatality" title="Occupational fatality">Occupational fatality</a></li></ul></li> <li><a href="/wiki/Workers%27_compensation" title="Workers' compensation">Workers' compensation</a></li> <li><a href="/wiki/Workers%27_right_to_access_the_toilet" title="Workers' right to access the toilet">Workers' right to access the toilet</a></li> <li><a href="/wiki/Workplace_health_promotion" title="Workplace health promotion">Workplace health promotion</a></li> <li><a href="/wiki/Workplace_phobia" class="mw-redirect" title="Workplace phobia">Workplace phobia</a></li> <li><a href="/wiki/Workplace_wellness" title="Workplace wellness">Workplace wellness</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Equal_opportunity" title="Equal opportunity">Equal opportunity</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Affirmative_action" title="Affirmative action">Affirmative action</a></li> <li><a href="/wiki/Equal_pay_for_equal_work" title="Equal pay for equal work">Equal pay for equal work</a></li> <li><a href="/wiki/Gender_pay_gap" title="Gender pay gap">Gender pay gap</a></li> <li><a href="/wiki/Glass_ceiling" title="Glass ceiling">Glass ceiling</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Infractions</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/List_of_corporate_collapses_and_scandals" title="List of corporate collapses and scandals">Corporate collapses and scandals</a> <ul><li><a href="/wiki/Accounting_scandals" title="Accounting scandals">Accounting scandals</a></li> <li><a href="/wiki/Control_fraud" title="Control fraud">Control fraud</a></li> <li><a href="/wiki/Corporate_behaviour" title="Corporate behaviour">Corporate behaviour</a></li> <li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate crime</a></li></ul></li> <li><a href="/wiki/Employment_discrimination" title="Employment discrimination">Discrimination</a></li> <li><a href="/wiki/Exploitation_of_labour" title="Exploitation of labour">Exploitation of labour</a></li> <li><a href="/wiki/Dress_code" title="Dress code">Dress code</a></li> <li><a href="/wiki/Employee_handbook" title="Employee handbook">Employee handbook</a></li> <li><a href="/wiki/Employee_monitoring" title="Employee monitoring">Employee monitoring</a></li> <li><a href="/wiki/Evaluation_(workplace)" class="mw-redirect" title="Evaluation (workplace)">Evaluation</a></li> <li><a href="/wiki/Labour_law" title="Labour law">Labour law</a></li> <li><a href="/wiki/Sexual_harassment" title="Sexual harassment">Sexual harassment</a></li> <li><a href="/wiki/Sleeping_while_on_duty" title="Sleeping while on duty">Sleeping while on duty</a></li> <li><a href="/wiki/Wage_theft" title="Wage theft">Wage theft</a></li> <li><a href="/wiki/Whistleblower" class="mw-redirect" title="Whistleblower">Whistleblower</a></li> <li><a href="/wiki/Workplace_bullying" title="Workplace bullying">Workplace bullying</a></li> <li><a href="/wiki/Workplace_harassment" title="Workplace harassment">Workplace harassment</a></li> <li><a href="/wiki/Workplace_incivility" title="Workplace incivility">Workplace incivility</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Willingness</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Boreout" title="Boreout">Boreout</a></li> <li><a href="/wiki/Careerism" title="Careerism">Careerism</a></li> <li><a href="/wiki/Civil_conscription" title="Civil conscription">Civil conscription</a></li> <li><a href="/wiki/Conscription" title="Conscription">Conscription</a></li> <li><a href="/wiki/Critique_of_work" title="Critique of work">Critique of work</a></li> <li><a href="/wiki/Dead-end_job" title="Dead-end job">Dead-end job</a></li> <li><a href="/wiki/Job_satisfaction" title="Job satisfaction">Job satisfaction</a></li> <li><a href="/wiki/McJob" title="McJob">McJob</a></li> <li><a href="/wiki/Organizational_commitment" title="Organizational commitment">Organizational commitment</a></li> <li><a href="/wiki/Refusal_of_work" title="Refusal of work">Refusal of work</a></li> <li><a href="/wiki/Slavery" title="Slavery">Slavery</a> <ul><li><a href="/wiki/Debt_bondage" title="Debt bondage">Bonded labour</a></li> <li><a href="/wiki/Human_trafficking" title="Human trafficking">Human trafficking</a></li> <li><a href="/wiki/Labor_camp" title="Labor camp">Labour camp</a></li> <li><a href="/wiki/Penal_labour" title="Penal labour">Penal labour</a></li> <li><a href="/wiki/Peon" title="Peon">Peonage</a></li> <li><a href="/wiki/Truck_wages" title="Truck wages">Truck wages</a></li> <li><a href="/wiki/Unfree_labour" class="mw-redirect" title="Unfree labour">Unfree labour</a></li> <li><a href="/wiki/Wage_slavery" title="Wage slavery">Wage slavery</a></li></ul></li> <li><a href="/wiki/Work_ethic" title="Work ethic">Work ethic</a></li> <li><a href="/wiki/Work%E2%80%93life_interface" class="mw-redirect" title="Work–life interface">Work–life interface</a> <ul><li><a href="/wiki/Downshifting_(lifestyle)" title="Downshifting (lifestyle)">Downshifting</a></li> <li><a href="/wiki/Slow_living" title="Slow living">Slow living</a></li></ul></li> <li><a href="/wiki/Workaholic" title="Workaholic">Workaholic</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Termination_of_employment" title="Termination of employment">Termination</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/At-will_employment" title="At-will employment">At-will employment</a></li> <li><a href="/wiki/Dismissal_(employment)" title="Dismissal (employment)">Dismissal</a> <ul><li><a href="/wiki/Banishment_room" title="Banishment room">Banishment room</a></li> <li><a href="/wiki/Constructive_dismissal" title="Constructive dismissal">Constructive dismissal</a></li> <li><a href="/wiki/Wrongful_dismissal" title="Wrongful dismissal">Wrongful dismissal</a></li></ul></li> <li><a href="/wiki/Employee_offboarding" title="Employee offboarding">Employee offboarding</a></li> <li><a href="/wiki/Exit_interview" title="Exit interview">Exit interview</a></li> <li><a href="/wiki/Layoff" title="Layoff">Layoff</a></li> <li><a href="/wiki/Notice_period" title="Notice period">Notice period</a></li> <li><a href="/wiki/Pink_slip_(employment)" class="mw-redirect" title="Pink slip (employment)">Pink slip</a></li> <li><a href="/wiki/Resignation" title="Resignation">Resignation</a> <ul><li><a href="/wiki/Letter_of_resignation" title="Letter of resignation">Letter of resignation</a></li></ul></li> <li><a href="/wiki/Restructuring" title="Restructuring">Restructuring</a></li> <li><a class="mw-selflink selflink">Retirement</a> <ul><li><a href="/wiki/Mandatory_retirement" title="Mandatory retirement">Mandatory retirement</a></li> <li><a href="/wiki/Retirement_age" title="Retirement age">Retirement age</a></li> <li><a href="/wiki/Retirement_planning" title="Retirement planning">Retirement planning</a></li></ul></li> <li><a href="/wiki/Severance_package" title="Severance package">Severance package</a> <ul><li><a href="/wiki/Golden_handshake" title="Golden handshake">Golden handshake</a></li> <li><a href="/wiki/Golden_parachute" title="Golden parachute">Golden parachute</a></li></ul></li> <li><a href="/wiki/Turnover_(employment)" class="mw-redirect" title="Turnover (employment)">Turnover</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Unemployment" title="Unemployment">Unemployment</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Barriers_to_entry" title="Barriers to entry">Barriers to entry</a></li> <li><a href="/wiki/Discouraged_worker" title="Discouraged worker">Discouraged worker</a></li> <li><a href="/wiki/Economic_depression" title="Economic depression">Economic depression</a> <ul><li><a href="/wiki/Great_Depression" title="Great Depression">Great Depression</a></li> <li><a href="/wiki/Long_Depression" title="Long Depression">Long Depression</a></li></ul></li> <li><a href="/wiki/Frictional_unemployment" title="Frictional unemployment">Frictional unemployment</a></li> <li><a href="/wiki/Full_employment" title="Full employment">Full employment</a></li> <li><a href="/wiki/Graduate_unemployment" title="Graduate unemployment">Graduate unemployment</a></li> <li><a href="/wiki/Involuntary_unemployment" title="Involuntary unemployment">Involuntary unemployment</a></li> <li><a href="/wiki/Jobless_recovery" title="Jobless recovery">Jobless recovery</a></li> <li><a href="/wiki/Phillips_curve" title="Phillips curve">Phillips curve</a></li> <li><a href="/wiki/Recession" title="Recession">Recession</a> <ul><li><a href="/wiki/Great_Recession" title="Great Recession">Great Recession</a></li> <li><a href="/wiki/Job_losses_caused_by_the_Great_Recession" title="Job losses caused by the Great Recession">Job losses caused by the Great Recession</a></li> <li><a href="/wiki/Lists_of_recessions" title="Lists of recessions">Lists of recessions</a></li> <li><a href="/wiki/Recession-proof_job" title="Recession-proof job">Recession-proof job</a></li></ul></li> <li><a href="/wiki/Reserve_army_of_labour" title="Reserve army of labour">Reserve army of labour</a></li> <li><a href="/wiki/Structural_unemployment" title="Structural unemployment">Structural unemployment</a></li> <li><a href="/wiki/Technological_unemployment" title="Technological unemployment">Technological unemployment</a></li> <li><a href="/wiki/Types_of_unemployment" class="mw-redirect" title="Types of unemployment">Types of unemployment</a></li> <li><a href="/wiki/Unemployment_benefits" title="Unemployment benefits">Unemployment benefits</a></li> <li><a href="/wiki/Unemployment_Convention,_1919" title="Unemployment Convention, 1919">Unemployment Convention, 1919</a></li> <li><a href="/wiki/Unemployment_extension" title="Unemployment extension">Unemployment extension</a></li> <li><a href="/wiki/List_of_countries_by_unemployment_rate" title="List of countries by unemployment rate">List of countries by unemployment rate</a></li> <li><a href="/wiki/Employment-to-population_ratio" title="Employment-to-population ratio">Employment-to-population ratio</a> <ul><li><a href="/wiki/List_of_sovereign_states_by_employment_rate" title="List of sovereign states by employment rate">List</a></li></ul></li> <li><a href="/wiki/Wage_curve" title="Wage curve">Wage curve</a></li> <li><a href="/wiki/Youth_unemployment" title="Youth unemployment">Youth unemployment</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Public programs</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Workfare" title="Workfare">Workfare</a></li> <li><a href="/wiki/Unemployment_insurance" class="mw-redirect" title="Unemployment insurance">Unemployment insurance</a></li> <li><a href="/wiki/Make-work_job" title="Make-work job">Make-work job</a></li> <li><a href="/wiki/Job_creation_program" class="mw-redirect" title="Job creation program">Job creation program</a></li> <li><a href="/wiki/Job_creation_index" title="Job creation index">Job creation index</a></li> <li><a href="/wiki/Job_guarantee" title="Job guarantee">Job guarantee</a></li> <li><a href="/wiki/Employer_of_last_resort" title="Employer of last resort">Employer of last resort</a></li> <li><a href="/wiki/Guaranteed_minimum_income" title="Guaranteed minimum income">Guaranteed minimum income</a></li> <li><a href="/wiki/Right_to_work" title="Right to work">Right to work</a></li> <li><i>Historical:</i></li> <li><i>U.S.A.:</i></li> <li><a href="/wiki/Civil_Works_Administration" title="Civil Works Administration">Civil Works Administration</a></li> <li><a href="/wiki/Works_Progress_Administration" title="Works Progress Administration">Works Progress Administration</a></li></ul> <p><a href="/wiki/Comprehensive_Employment_and_Training_Act" title="Comprehensive Employment and Training Act">Comprehensive Employment and Training Act</a> </p> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">See also</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bullshit_job" title="Bullshit job">Bullshit job</a></li> <li><a href="/wiki/Busy_work" title="Busy work">Busy work</a></li> <li><a href="/wiki/Credentialism_and_educational_inflation" class="mw-redirect" title="Credentialism and educational inflation">Credentialism and educational inflation</a></li> <li><a href="/wiki/Emotional_labor" title="Emotional labor">Emotional labor</a></li> <li><a href="/wiki/Evil_corporation" title="Evil corporation">Evil corporation</a></li> <li><a href="/wiki/Going_postal" title="Going postal">Going postal</a></li> <li><a href="/wiki/Kiss_up_kick_down" title="Kiss up kick down">Kiss up kick down</a></li> <li><a href="/wiki/Labor_rights" title="Labor rights">Labor rights</a></li> <li><a href="/wiki/Make-work_job" title="Make-work job">Make-work job</a></li> <li><a href="/wiki/Narcissism_in_the_workplace" title="Narcissism in the workplace">Narcissism in the workplace</a></li> <li><a href="/wiki/Post-work_society" title="Post-work society">Post-work society</a></li> <li><a href="/wiki/Presenteeism" title="Presenteeism">Presenteeism</a></li> <li><a href="/wiki/Psychopathy_in_the_workplace" title="Psychopathy in the workplace">Psychopathy in the workplace</a></li> <li><a href="/wiki/Sunday_scaries" title="Sunday scaries">Sunday scaries</a></li> <li><a href="/wiki/Slow_movement_(culture)" title="Slow movement (culture)">Slow movement (culture)</a></li> <li><a href="/wiki/Toxic_leader" title="Toxic leader">Toxic leader</a></li> <li><a href="/wiki/Toxic_workplace" title="Toxic workplace">Toxic workplace</a></li> <li><a href="/wiki/Workhouse" title="Workhouse">Workhouse</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <dl><dt><span class="noviewer" typeof="mw:File"><span title="Template"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/8/83/Symbol_template_class_pink.svg/16px-Symbol_template_class_pink.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/83/Symbol_template_class_pink.svg/23px-Symbol_template_class_pink.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/83/Symbol_template_class_pink.svg/31px-Symbol_template_class_pink.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> See also templates</dt></dl> <ul><li><a href="/wiki/Template:Aspects_of_corporations" title="Template:Aspects of corporations">Aspects of corporations</a></li> <li><a href="/wiki/Template:Aspects_of_jobs" title="Template:Aspects of jobs">Aspects of jobs</a></li> <li><a href="/wiki/Template:Aspects_of_occupations" title="Template:Aspects of occupations">Aspects of occupations</a></li> <li><a href="/wiki/Template:Aspects_of_organizations" title="Template:Aspects of organizations">Aspects of organizations</a></li> <li><a href="/wiki/Template:Aspects_of_workplaces" title="Template:Aspects of workplaces">Aspects of workplaces</a></li> <li><a href="/wiki/Template:Corporate_titles" title="Template:Corporate titles">Corporate titles</a></li> <li><a href="/wiki/Template:Critique_of_work" title="Template:Critique of work">Critique of work</a></li> <li><a href="/wiki/Template:Organized_labor" title="Template:Organized labor">Organized labor</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"><style data-mw-deduplicate="TemplateStyles:r1038841319">.mw-parser-output .tooltip-dotted{border-bottom:1px dotted;cursor:help}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1038841319"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1038841319"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1038841319"></div><div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q946865#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q946865#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="font-size:114%;margin:0 4em"><a href="/wiki/Help:Authority_control" title="Help:Authority control">Authority control databases</a> <span class="mw-valign-text-top noprint" typeof="mw:File/Frameless"><a href="https://www.wikidata.org/wiki/Q946865#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, 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class="rt-commentedText tooltip tooltip-dotted" title="Retraite"><a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb133187214">BnF data</a></span></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://id.ndl.go.jp/auth/ndlna/00572572">Japan</a></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="odchod do důchodu"><a rel="nofollow" class="external text" href="https://aleph.nkp.cz/F/?func=find-c&local_base=aut&ccl_term=ica=ph225454&CON_LNG=ENG">Czech Republic</a></span></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://kopkatalogs.lv/F?func=direct&local_base=lnc10&doc_number=000066947&P_CON_LNG=ENG">Latvia</a></span></li><li><span class="uid"><a rel="nofollow" class="external text" href="https://www.nli.org.il/en/authorities/987007534077705171">Israel</a></span></li></ul></div></td></tr><tr><th scope="row" class="navbox-group" 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