For many people in their mid to late career retirement is the end goal. Retirement is when you leave the
workforce
and live off the money you have saved and invested over your life. This typically happens around the age of
62,
but can happen earlier or later depending on your financial situation.
The S&P 500, or Standard & Poor's 500, is a stock market index that tracks the performance of 500 of the largest publicly traded companies in the United States. It is widely regarded as a benchmark for the overall health of the U.S. stock market and economy. The index includes companies from various sectors, providing a broad representation of the market.