Retirement is the time in life when the major sources of income change from earned income to employer-based retirement benefits,private savings and investments,income from Social Security,and perhaps part-time employment.

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Retirement is typically characterized by a shift in income sources from earned income from working to other sources such as retirement benefits, savings, investments, and Social Security. Many retirees may also choose to work part-time during retirement to supplement their income.

Retirement Is the Time in Life When the Major Sources