Understanding of retirement planning and its goals

Unique23

Member
Retirement planning means preparing today for your future life so that you continue to meet all your goals and dreams independently. This includes setting your retirement goals, estimating the amount of money you will need, and investing to grow your retirement savings. Every plan for retirement is unique.
Retirement planning is the process of determining retirement income goals, and the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, sizing up expenses, implementing a savings program, and managing assets and risk.
Retirement planning includes a lot more than simply how much you will save and how much you need. It takes into account your complete financial picture.
Once you reach retirement, there’s also the question of whether you should sell your home. If you still live in the home where you raised multiple children, it might be larger than you need, and the expenses that come with holding onto it might be considerable. Your retirement plan should include an unbiased look at your home and what to do with it.
 

btaliat

VIP Contributor
A wise person should be thinking and planning of retirement the moment he takes up a job. It is a strategic plan that must be taken serious. Some people however fails to do this. They wait till when the retirement age is almost near before they start preparing for it
 

Good luck

Verified member
It is good to always start planning for one retirement even when one is still in service because if one depends on government,one may be disappointed because there may be a serious delay in payment of pension which may affect the person that has worked for over thirty years.it may have a psychological effects on such person.early saving can be of good help.
 

Sotherefore

VIP Contributor
One of the most important thing for people who are really interested of having a good financial independence after retirement is that they should try as much as possible to invest the little money they have on something that will be profitable to them in the future if it is possible they should also consider starting a business.
 
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