Ruhestand
In short
Ruhestand is the German word for retirement, marking the period when a person stops working due to age.
In plain words
It is the time in life after your career ends. You usually receive a pension to cover your living costs. Most people enter this stage when they reach a certain age set by the law.
A simple example
After working as a teacher for forty years, Hans reaches the legal age and enters Ruhestand. He now spends his time gardening and travelling instead of grading papers.
Why it matters
It represents a major life transition that requires financial planning. It allows individuals to rest and pursue hobbies after decades of labour.
Easy to mix up
Do not confuse it with 'Rente', which specifically refers to the pension payments received during this time.