ELI5: Explain Like I'm 5

Retirement

Retirement means when you stop working and do not have a job. It is when people decide to take some time away from their job and do other activities, like traveling or spending time with family and friends. It also means you get to stop getting a paycheck and instead get to use money that you saved up in a bank account or a retirement plan while you were working. You might also start getting a pension, or money from the government, if you qualify.