Retirement Planning Terminology

noun assets or money that someone has saved for a long time

• She invested her life savings in a diversified portfolio to ensure financial security in the future.
• He blew his life savings on a fancy new car instead of saving it for a rainy day.
• I can't believe she gambled away her life savings at the casino last night.
• Losing his job felt like losing his life savings, as if all his hard work had gone to waste.

verb to stop working, typically after reaching a certain age or milestone

adjective no longer working in one's occupation or field

• After working for 40 years, he finally retired from his job as a lawyer.
• My neighbor retired last week and now he's spending his days fishing.
• I heard that she's officially retired and living her best life now.
• The old traditions have retired and made way for new customs.

adjective Superannuated is an adjective that means outdated or obsolete, typically referring to a person who is retired or past the age of usefulness.

• The company decided to replace the superannuated equipment with newer models.
• They finally got rid of the old superannuated stuff in the office.
• I can't believe they were still using that superannuated technology.
• Her superannuated way of thinking was holding her back from progress.

noun a person's decision to stop working before the usual retirement age

adjective referring to retiring from work at a younger age than usual

• Early unretirement is becoming more common as people seek to continue working past traditional retirement age.
• I heard Sarah is considering early unretirement so she can travel more while she's still young.
• Bob's early unretirement plan is to chill out and take it easy for a while.
• For some, early unretirement is like hitting the reset button on their career.

adjective relating to actuaries or the work of actuaries, typically involving statistical analysis and risk assessment

• The actuarial department is responsible for calculating insurance premiums based on risk assessment.
• The actuarial team crunches numbers to figure out how much we should pay for insurance.
• The actuarial guys are the ones who do all the math to set insurance prices.
• In life, we all have to do our own actuarial calculations to determine our risks and rewards.