Retirement funds refer to the savings or investments that are set aside specifically for an individual's retirement. These funds can come from various sources, such as employer-sponsored plans like 401(k)s, personal contributions through Individual Retirement Accounts (IRAs), and other private pensions or annuities. The goal of these savings is to provide a steady income stream for an individual during their retirement years so that they can maintain their standard of living without having to rely on government assistance programs.