Planning for Old Age
01.What is Retirement?
Retirement is the phase of life when you stop working, usually around age 65. When adults get old, they want to spend their time traveling, enjoying hobbies, or playing with grandchildren instead of working a daily job.
02.No More Paychecks
When you retire, you stop getting a monthly paycheck from work. So how do you pay for food and housing? You use the savings you built up during your working years! That's why planning for retirement is a lifelong journey.
03.The Social Security Net
The US government runs a program called Social Security, which pays a small monthly income to retired workers. But this income is usually not enough to cover all expenses, so personal savings are essential!