Retirement money refers to funds that are set aside specifically for use during retirement. This can include savings, investments or pension plans that have been put in place with the goal of providing financial support after an individual stops working. Retirement money is typically used to cover living expenses and other costs associated with retired life such as healthcare, travel, hobbies, etc. The adequacy of one's retirement savings can greatly impact their quality of life in retirement, so it’s important for individuals to plan and save accordingly during their working years.