Cloe: Retirement in the US is a combination of age, Retirement Accounts, and saved money. All businesses are required to withhold a certain percentage of an employee's wages and match that amount for Social Security Administration accounts. In most circumstances, you can start drawing Social Security at age 62 with limited additional income or at 65 with no limits on additional income.
Many also have Employee/Employer Individual Retirement Accounts set up where the employee sets a certain percentage to be withheld and the employer contributes a certain percentage and that money is invested in stocks, bonds, etc., and cannot be touched without severe tax penalties until age 59 1/2.
I am presently drawing Social Security plus what I have saved and work when I want to as a specialized Appliance Technician.
I have 2 IRA's that I will tap into after age 65. You start planning all of this when you are 20 years old. I apoligize for taking so long about replying, but I took the month of February to visit what relatives I have left scattered all over Texas and New Mexico.
Arnulf: There is still some "fire in the furnace", isn't there? I've been trying to figure out your updates and make some additional updates to Ariane.
Brewer: What part of Texas? Do you reckon the others will understand if we start througing oput some "Tex-Mex" lingo?