Retirement planning is figuring out how much income you need once you are retired and how you prepare a plan for this. It involves looking into revenue-generating possibilities, projecting future needs and exploring possibilities of developing income after retirement. It might not seem important once you begin earning but preparing early is very essential because life can bring numerous unexpected challenges.
The important process of retirement planning involves screening of income, expenses, savings, and risk management to help achieve life after retirement. It calls for careful economic management, more often using selected economic instruments based on an individual’s record. Free planning provides comfort, preventing one from incurring expenses that would later affect one's health.
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How much should you have saved for retirement by age-wise?
