retire

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Retire

To extinguish a security, as in paying off a debt.

Retirement

1. The act or process of causing a security to cease to exist. It especially applies to debt securities; when a bond for example matures is said to be retired. However, a stock or other security may also be retired if its issuer buys it back.

2. A situation in which one stops working in one's old age, or at least when one has saved enough money to last the remainder of one's life. Generally, retirement occurs after the age of 65, but this is not a hard-and-fast rule. Both governments and companies offer pensions, annuities, and other plans to provide for one's financial needs in retirement.

retire (a debt)

To pay off a loan.
References in periodicals archive ?
In another case study, sole practitioner John Smith, who had $150,000 in annual fees and wanted to retire in four years, structured a similar two-stage deal.
Smith was so comfortable that his clients were well transitioned that he elected to retire after year three.
If you retire at 65, you might live another 25 or 30 years.
Clients come to us in their early or mid-50s and say they want to retire in five years," says Anderson.
The key disadvantage of unfunded retirement plans is that, for one reason or another, the money may not be there when partners retire.
The structure may vary, but the concept of these plans is the same: Participants pay in over time and when they retire they take the money out, along with whatever earnings and appreciation the money has earned.
Thus, if employees (other than 5% owners) who attained age 70 1/2 in 1996 and did not retire from employment with the employer maintaining the plan by the end of 1996 were offered the opportunity to make an election to defer commencement of benefits rather than to begin receiving benefits from the plan by Apr.
Deciding when to retire comes down to a question of whether a worker is better off taking 80% of the PIA at 62 or waiting to get 100% at 65.
Mike takes reduced benefits at 62, while David waits until 65 to retire.
I really don't want him to retire," said trustee Annette Edblad, who had Baldwin as a high school civics teacher in 1972.
Baldwin's contract doesn't expire until 1998, and his announcement to retire came as a surprise to some trustees.
It's been fun building this airline, but now it's time to play with my grandchildren," said Kalil, who will retire to Houston, Texas.