Studies have shown that building and maintaining resources and capabilities to assure a comfortable worry-free retirement is a constant struggle for most people. Retirement refers to withdrawal from one’s employment position or occupation or from active working life. Retirement refers to that part of one’s life when he or she voluntarily, or involuntarily withdraw from actively working, or from any type of labour. If planned right, retirement period is expected to be the best part of one’s life – a time devoted to leisure, and to the good pleasures of life and family – the golden age. There are many factors that determine when an individual can retire. These factors include age, state of health, and the level of resources needed to make life comfortable in retirement. In most nations of the world, the age of 60 and above is generally viewed as a good time to retire, but some may be forced to work for longer years because of an inability to possess the financial resources to
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