To retire means to stop working and doing a job, usually because you've reached a certain age or have enough money.
When people talk about retiring, it's often in the context of planning for their golden years. Imagine you're a bus driver who has been driving buses for 30 years - at some point, you might decide that it's time to stop working full-time and enjoy your free time. You've probably saved up enough money from your salary over the years or have a pension plan that will support you in retirement. Once you retire, you can think about all the things you want to do with your newfound freedom - travel, learn new hobbies, spend more time with family and friends.
How common is "retire"?
Word retire is considered uncommon in modern English. It has a balanced usage among all categories: speech, fiction, newspapers and academic texts.
Definitions
noun
The act of retiring, or the state of being retired.
A place to which one retires.
A call sounded on a bugle, announcing to skirmishers that they are to retire, or fall back.
Example: At the retire, the cavalry fell back.
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retreat
verb
To stop working on a permanent basis, usually because of old age or illness.
Example: Having made a large fortune, he retired.
(sometimes reflexive) To withdraw; to take away.
To cease use or production of something.
Example: The steamship made thousands of trips over several decades before it was retired by the shipping company.
To withdraw from circulation, or from the market; to take up and pay.
Example: The central bank retired those notes five years ago.
To cause to retire; specifically, to designate as no longer qualified for active service; to place on the retired list.
Example: The board retired the old major.
(of a batsman) To voluntarily stop batting before being dismissed so that the next batsman can bat.
Example: Jones retired in favour of Smith.
(of a fielder) To make a play which results in a runner or the batter being out, either by means of a put out, fly out or strikeout.
Example: Jones retired Smith 6-3.
To go back or return; to withdraw or retreat, especially from public view; to go into privacy.
Example: I will retire to the study.
To retreat from action or danger; to withdraw for safety or pleasure.
Example: The regiment retired from the fray after the Major was killed.
To recede; to fall or bend back.
Example: Past the point, the shore retires into a sequence of coves.
To go to bed.
Example: I will retire for the night.
To remove or cease to use.
Example: When a hurricane becomes so deadly or destructive that future use would be insensitive, officials may retire the name of the hurricane.