RETIREMENT PLANNING
A process that plans for your future, which is in this case a retirement income. Retirement planning is done via identification of sources of income, saving programs, and professionally managing one’s assets in accordance with the risks involved.
Retirement plans are different for different countries owing to the standard of living and other set-backs or expenses, and these plans are often ongoing through your earning life, such that you can have a safe and secure future when you enter your old age.
It is best to start planning for your future right from when you start earning, to eventually have enough some added when its required. This is a very important aspect of planning, with the most important aspect being the building of the pedestal for yourself.
