Retiro

Retiro is a term used in Spanish and Portuguese with several related meanings. As a noun, it derives from the verb retirar and denotes the act of withdrawing or moving back, and it is commonly used to mean retirement from work. It can also refer to the withdrawal of funds in financial contexts, as well as to a place or period of rest or contemplation—a retreat, as in retiro espiritual.

In everyday language, retiro covers both the cessation of professional activity (retirement) and the act of withdrawing, including the withdrawal of money, or a temporary or permanent break from public life. The term can also describe a private or contemplative withdrawal from social obligations.

Geographically, the best-known use is Parque del Buen Retiro, usually called El Retiro, a large public park in Madrid, Spain. Founded in the 17th century as a royal property for King Philip IV, it was opened to the public in the 19th century and has since become a major cultural and recreational space. The park spans roughly 125 hectares and features an artificial lake, promenades, and notable buildings such as the Palacio de Cristal and the Palacio de Velázquez, along with statues, gardens, and monuments.

In social and economic discourse, retiro also denotes retirement systems, pension arrangements, or voluntary retirement programs, including early or late retirement policies and related financial planning. The term reflects the dual sense of stepping back from activity and a place or period of rest.