Retirement for ordinary people is a phenomenon of modern, industrialized society. Things have changed. Today, about a millions of people retire each year. Retirement is the goal that most workers and small business owners look forward to as an appropriate conclusion to their careers. People retiring today are finding a different experience than those who retired a generation ago. No longer is retirement a relatively short period at the end of life in which People take it easy and tend to household chores. Today, a substantial period of active living can span as much as a third of their lifetime. The image of retirement as idle time spent walking in the park, dozing by the fire, playing golf, or fishing has been replaced by a vision of unlimited opportunities for fulfillment.

The concept of retirement has emerged as a result of several changes. The first notable change is the number of people who are living longer. Because of better medical care, improved diet, and increased interest in physical fitness, more people are reaching the ages of older in excellent health. The activities and attitudes of today’s 70-year-old are about the same as those of a 60-year-old a decade ago.

The next significant change is a well-defined trend toward earlier retirement. Many of today’s retirees are younger, healthier, and more financially secure than their predecessors. Their children are reared, their careers are complete, and they are ready to enjoy the fruits of their hard-work. With careful planning, they can make these years the best years of their lives.