WHAT IS RETIREMENT PLANNING

WHAT IS RETIREMENT PLANNING

Retirement is the beginning of a new stage of life and is most important in our life. We need to think in advance when we will retire, partially or fully. Planning retirement is a personal plan and one size planning does not fits to everyone. Retirement planning is taking the time early in your working life to save money to live on during your retirement time. Whether you intend to retire at any age, you will need money to live on when you do. Government-sponsored plans simply will not be sufficient. No matter how old you are or where you are in your career, it is time to think about planning for retirement. Early we think better and easy for us to manage.At retirement age we spend most of the money we saved in our life. Most people does not think for retirement until they reach over 50 and then they don’t have enough time to save for retirement. We need to think in advance because this age usually we have large medical bills and we not able to work.

Ask yourself

1 Do I want to retire?
2 How will I handle not having to go to work?
3 How much income will I need in retirement?
4 Should I consider semi-retirement or a second career?
5 What impact will my retirement have on my family?
6 Will I have to get a part-time job to make ends meet?