The term retirement is largely related to one ceasing to work for a living. It comes in the backdrop of an individual being able to rely on their savings or pensions to meet all their expenses for the remainder of their lifetimes. Retirement is not a very recent phenomenon. It came into existence only in the 1800s which is fairly recent. Compared to how long the civilized world has evolved on the planet. The first country that initiated the concept was Germany that announced retirement benefits as early as 1889. Until then Human Beings used to work right until their death.
It is also to be noted that life expectancy of a human being has significantly increased from an average of 40 to 50 years to up to 70 to 80 years with time. So earlier the option of working until death was inevitable as humans never lived for more than 50 years or so. It was also understood that humans after a certain age cannot function as they used to when they were younger. And globally it was an accepted fact that it was around the age of 60 that the changes occur in Humans and old age begins to set in.
Retirement differs from country to country and Classes to Masses
What needs to be certainly looked act and the core essence of this write up is that does retirement apply to all? Well while this fact may be applicable to citizens of developed countries. It does not apply to less privileged nations who have to still struggle to earn their daily bread right until their last breath. People mostly in government jobs seem to enjoy a lot of retirement benefits like health, Pensions, discounts and freebies of different kinds just to name a few. This applies to most nations and hence a government job is the most preferred the world over.
The Rich can choose to retire whenever they want as the phenomenon of retirement kind of does not apply to this class of people. Wealth is used to create more wealth and this can be done with the least physical excursion. Money gives you the luxury of hiring people to do what you cannot do due to old age. A proven fact why heads of conglomerates world over are well above the age of 80 and have still not signaled retirement. It is however not applicable to all from this class. Few even choose pre-Retirement or early retirement to make way for their kin.
Concept of Retirement is still a fantasy for a certain section of society
The Middle Class is a huge population globally who dominate the white-collar job segment. In almost any industry the world over. This class of people literally work very hard to make ends meet. They also manage to make a corpus that would help them survive through their old age. That too after they have taken the necessary steps to make their children financially independent. The class of people that typically dream of relaxing on an Easy chair reading a Newspaper and sipping Coffee. A picture that is largely imagined when one thinks Retirement.
Now there is the third level or class of people who are the least fortunate. Also, the class that indulges in the most Physical activity to earn their daily bread. The ones that are at the bottom rung of society. And work longer hours than the other two classes. Retirement is a far-fetched concept, providing education to their loved ones itself sometimes turns out to be a herculean task. Mostly daily wage earners and contract labourers, employment itself is not permanent. This is the class of people who still live a pre-1800 life. Where they have to work right until the last moments of life.